Ferrari confirms participation F1 until 2026 and signs Concorde Agreement
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- GPblog.com
After the confirmation that McLaren has signed the Concorde Agreement, now follows the confirmation that the Scuderia Ferrari scribble is also covered by the agreement. We will have to wait for the rest of the teams.
In the meantime Ferrari has also indicated to participate in F1 at least until 2026. By signing the proposal, Ferrari agrees to the conditions that will apply in Formula 1 in the coming years. The main conditions have already been published in 2019. In addition, there are still small issues to be discussed, how to deal with them.
The main commercial and regulatory aspects surrounding F1 are already included in the agreement. Among other things, the distribution of the television revenue and the prize money have been included. For Scuderia Ferrari this has always been an interesting point.
Ferrari tradition will be seen for a long time to come
The team has been the longest-sitting team in the sport and over the years has also received financial benefits from the organisation and the FIA.
Ferrari CEO Louis Camilleri responded to the confirmation in a press release: "We are very pleased with the new Concorde Agreement and we are delighted to re-sign it. It is a big step for sport with a view to stability and growth".
"We've been competing since the start of the competition and racing is in Ferrari's DNA. Therefore, we want to remain active in this sport in the future."