Concorde Agreement ready to be signed off

Closure to what has been several months of feuding over the future direction of Formula One could come as early as this week when Formula One’s commercial rights holders, the teams, and the FIA put their ink on a new Concorde Agreement.

The document, which legally binds those parties on the governance and regulation of the sport, is expected to be completed for sign off by the end of this week, subject to ratification from the World Motor Sport Council

The FIA confirmed in a statement: “Following the completion of negotiations with FOA and all 13 Formula One teams by FIA President Max Mosley and FIA Deputy President for Sport Nick Craw, the members of the World Motor Sport Council have been sent a copy of the proposed new Concorde Agreement for their consideration.

“Subject to the approval of the WMSC and on receipt of confirmation that a satisfactory cost-reduction agreement is in place, the new Concorde Agreement should be ready for signature at the end of next week.”