The F1 Concorde Agreement is a document that outlines the terms and conditions of the Formula One World Championship. It is an important agreement that governs the relationships between the teams, the FIA (Fédération Internationale de l`Automobile), and the commercial rights holder of F1.
The most recent version of the Concorde Agreement was signed in August 2020 and is set to last until the end of the 2025 season. In it, there are a number of changes to the way F1 is governed and managed, with a focus on improving the sport and making it more sustainable.
The 2021 version of the Concorde Agreement is available to view online in PDF form. It outlines everything from the technical regulations of the sport, to the commercial agreements between the teams and the commercial rights holder.
One key change in the 2021 Concorde Agreement is the introduction of a cost cap. This is designed to make the sport more sustainable for the teams by limiting how much they can spend on developing their cars. There are also new rules around the sharing of revenues, which aim to create a fairer distribution of wealth between the big and small teams.
Another notable change is the introduction of a new governance structure. The FIA has been given more power to regulate the sport, while the commercial rights holder has been given a greater role in shaping its future direction. This is seen as a positive step towards ensuring that the sport remains relevant and competitive in the years to come.
Overall, the 2021 Concorde Agreement represents a significant step forward for the sport of Formula One. With a greater focus on sustainability, fairer distribution of wealth, and more effective governance, fans can expect to see an even more thrilling and competitive spectacle on the racetrack. If you`re interested in reading more about the changes to F1, be sure to check out the PDF version of the 2021 Concorde Agreement.