Bernie Ecclestone has announced that the majority of the teams have agreed the terms of a future Concorde Agreement to run from 2013-2020.
Last week in Australia it became apparent that Ferrari and Red Bull had or were about to sign up to a new deal having left FOTA, but significantly Bernie has named McLaren in addition to those two.
Ecclestone issued a single sentence on the F1 website: “I am very pleased to announce that we have reached commercial agreements with the majority of the current Formula One teams, including Ferrari, McLaren and Red Bull Racing, about the terms on which they will continue competing in Formula One after the current Concorde Agreement expires at the end of this year.”
It remains to be seen which teams have not yet agreed, but whatever the case the news would seem to be positive if it means that there won’t be a prolonged debate that pits Ferrari and Red Bull against the key FOTA members.
“It’s great news,” Red Bull boss Christian Horner told Sky’s Ted Kravitz. “Hopefully it secures the long term future of the sport with the teams involved. It’s important I think for there to be a Concorde Agreement because it protects the teams through that agreement as well. Hopefully it will all be formalised pretty shortly.”