In addition to producing a 2014 calendar the World Motor Sport Council has reiterated the significance of the FIA’s agreement with the F1 Group in preparation for the finalising of the Concorde Agreement.
In addition to the obvious financial considerations the deal formalises the new form of governance for the sport.
A statement said: As confirmed earlier today by the FIA and the Formula 1 Group, the framework for the implementation of the 2013 Concorde Agreement has now come into force. This agreement provides the FIA with significantly improved financial means to pursue its regulatory missions and to reflect the enhanced role undertaken by the FIA in motor sport. The parties have agreed a strong and stable sporting governance framework which includes the Formula 1 Group, the FIA and the participating teams. The agreement lays down solid foundations for the further development of the FIA Formula One World Championship.
As revealed here earlier today, Todt has agreed to create a body to deal with the allocation of the extra funding generated by the Concorde Agreement: The members of the WMSC congratulated the FIA President for the successful and favourable conclusion to the negotiations. The members also accepted his proposal to create a new task force, after the FIA Presidential Election, charged with proposing the allocation of the additional financial resources for the FIA and its membership.
The World Council has also addressed the tender process for single suppliers to F1 – confirming that it and not Bernie Ecclestone makes the ultimate call. In this new process, the FIA will be confirmed as the body in charge of conducting the tender process. The Commercial Rights Holder will be entitled to run the commercial negotiations with potential suppliers, with a view to the selected single supplier being officially appointed by the WMSC.
In order to cover the transition period and considering the contracts already settled by FOM and the Teams with Pirelli, the WMSC today confirmed that Pirelli may continue to supply tyres to competitors in the FIA F1 World Championship, subject to the requisite technical and safety standards of the FIA being met.