Lack of Concorde could save Formula 1
Once again, Formula 1 is struggling to finalise a new Concorde Agreement. But if Bernie Ecclestone and CVC want more races, not signing could be the only way for teams to prevent an escalation of costs, as Dieter Rencken explains
The Concorde Agreement, the document that outlines Formula 1's technical, governance and financial aspects, is so secret that not even Julian Assange of Wikileaks infamy has access to a copy – and rest assured that situation is not through lack of wanting.
Yes, there is a version of the 1998-2007 document floating about the internet, but sources are adamant any resemblance between that agreement and the current covenant is restricted to the name, for where the former granted then-FIA president Max Mosley swingeing regulatory powers, and commercial rights holder Bernie Ecclestone an effective 77 per cent of the sport's revenues, the 2010-2012 edition dramatically curtailed the governing body's powers (to eliminate the risk of systemic abuse) while the CRH now retains around 45 per cent of revenues after expenses (hooray!).
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