Ferrari $50m Concorde bonus?

Ferrari’s new deal for the 2013 Concorde Agreement reportedly involves a $50 million annual fee. It is believed the Italian team has now finalised its commercial agreement with Bernie Ecclestone. The same is reportedly true for fellow top teams McLaren and Red Bull, whose annual additional fee is, according to German newsmagazine Der Spiegel, $35m apiece.

Ecclestone wanted to announce the conclusion of successful Concorde Agreement negotiations in Malaysia, but major teams including Mercedes and Williams were yet to sign up.

Instead, the F1 chief executive released a statement saying deals have been done with ‘the majority’ of the teams. Mercedes, in particular, is more than unhappy.

“It can not be,” a Daimler insider is quoted as saying, “that transparency from our business partners is lacking regarding a contract through 2020.”

Source:GMM