What are the important rules of Concord

Ferrari has also signed: New Concorde Agreement brings "stability"

(Motorsport-Total.com) - After McLaren, Scuderia Ferrari has also confirmed that the new Concorde Agreement 2021-25 has been signed. Today is the deadline for early signature, with teams guaranteed a financial bonus if they stick to it. The final deadline expires at the end of the month.

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On target: Ferrari has signed the new agreement with Formula 1 and FIA Zoom

"We are delighted that we have again joined the so-called Concorde Agreement, which will regulate the formula for the next five years," commented Ferrari CEO Louis Camilleri on the signing. "It's an important step in ensuring the stability and growth of the sport."

"We are very confident that the cooperation with the FIA ​​and Liberty Media can make Formula 1 even more attractive and spectacular while at the same time maintaining its status as the ultimate technological challenge."

In this context, Camilleri also emphasized how inextricably linked Formula 1 and Ferrari are: "Racing is in Ferrari's DNA. It is no coincidence that Scuderia is the only team that takes part in every FIA Formula 1 World Championship has participated and has become an integral and essential part of its success, now as then and especially in the future. "

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Formula 1 boss Chase Carey also underlined the longevity of the team in the premier class. "Scuderia Ferrari and Formula 1 have been going hand in hand since 1950," said the American. "We are delighted that this relationship will continue for a long time because it is part of the real DNA of this sport."

"On the way that led to the definition of the new Concorde Agreement, we appreciated the constructive role of Ferrari, which always aimed to make the spearhead of motorsport stronger, fairer and more sustainable."

FIA President Jean Todt added: "We are delighted that Ferrari has signed the new Concorde Agreement that will ensure a stable future for the FIA ​​Formula One World Championship. This is the epitome of motorsport and it is only natural that the most successful team in this series, in which it has always played a leading role, will continue to fill it in the years to come. "

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Shortly after Ferrari, Williams also went public with his signatureZoom

Update 7 p.m .: Williams also announced his signature on Tuesday evening. "Formula 1, the FIA ​​and all ten teams have been negotiating for several months to get to this stage, and Williams Racing has now officially agreed to the new terms set out by the commercial rights holder, Liberty Media, for five years from 2021." were ", it says.

Claire Williams, Deputy Team Principal, described the new agreement as a "big step forward" and an "important milestone". Thanks to a fairer distribution of income and the upper cost limit, the next era of racing will "be characterized by closer and more exciting races".