F1 confirms 11 teams have signed the latest Concorde Agreement
F1 News
Ahead of the first Grand Prix of the season, the new Concorde Agreement has been signed by all 11 Formula One teams for the least the next five years, the F1 announced. This means that throughtout this period, they will remain committed to the competition.
11 teams all sign
"Formula 1 can confirm that all teams have signed the 2026 Concorde Commercial Agreement, which secures the long-term economic strength of the sport. Formula 1 has never been in a stronger position and all stakeholders have seen positive benefits and significant growth. We thank all the teams for their engagement during this process to reach the best outcome for the sport," F1 reported.
What is the Concorde Agreement in F1?
The final agreement is set to be finalised soon. The agreement takes places between the FIA, F1, and all the teams in the competition, and includes the rules of the sport and how the pie of income is destributed between the teams.
All teams, including the 11th one on the grid that is set to join next season, Cadillac, have therefore now committed to the competition until at least 2030.
This article was written in collaboration with Tim Kraaij
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