The first salvo in the new Concorde battle
Dieter Rencken analyses the opening bout of issues brought up by the latest Concorde Agreement
When asked back in October by this column whether negotiations for an extension to the 2010-2012 Concorde Agreement were imminent – as they should be, particularly given that the current covenant, which outlines the obligations of teams, the FIA and its Formula 1 commercial rights holder (FOM), took three acrimonious years to agree – a team principal allowed that they (the Formula One Teams' Association) were planning to 'get their ducks in a row once the season is over'.
The timing makes enormous sense, for reaching unanimous agreement on a contentious document will hardly be the work of a race day Saturday. After all it not only details the distribution of revenues estimated to exceed $8bn during the agreement's tenure between parties as disparate as the FIA; CVC, an insatiable venture fund, and anything up to 13 teams ranging from grandees with palatial facilities to budget outfits working out of rented space, but also outlines the future regulatory framework for this most complicated of all sports.
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