Following approval by the World Motor Sport Council, late last
night FIA President Max Mosley signed the 2009 Concorde Agreement,
heralding a renewed period of stability for the FIA Formula One World
Championship.
The Concorde Agreement – a contract between the FIA, F1’s
Commercial Rights-Holder and the participating Teams – sets out the
basis on which the Teams participate in the Championship and share in
its commercial success.
The WMSC has also approved a slightly revised set of stable
Sporting and Technical Regulations (to apply from the 2010
Championship onwards), which have been agreed by the FIA and the Teams
and which will be published shortly on the FIA's website.
The new Concorde Agreement, which runs until 31 December 2012,
provides for a continuation of the procedures in the 1998 Concorde
Agreement, with decisions taken by working groups and commissions,
upon which all teams have voting rights, before going to the WMSC for
ratification.
In addition, as agreed in Paris on 24 June 2009, the Teams have
entered into a resource restriction agreement, which aims to return
expenditure to the levels that prevailed in the early 1990s.
With the 2009 Concorde Agreement and the resource restriction
agreement in place, the FIA looks forward to a period of stability and
prosperity in the FIA Formula One World Championship.
