Liberty Media CEO on contract: 'Showing the world we are one together'

Liberty Media is hoping for quick negotiations with the FIA on the upcoming 'Concorde Agreement'. The agreement lays down the rules and distribution of television revenues, as well as prize money. The previous contract went into effect in 2022, and this one will take effect from 2026 onwards.

The previous negotiations on the Concorde Agreement between the various parties were an arduous affair that lasted more than a year and concluded in the summer of 2020 on the eve of the deadline set by the FIA.

Liberty Media CEO Greg Maffei stressed that it was in the interest of all parties to come together and finalise the new deal, which is likely to run until 2030.

"Stefano Domenicali and I were talking about the next agreement. What we would want and when we would want it," Maffei is chronicled by F1i.com. "We think it is in everyone's interest, that of the teams, of us and of the FIA, to consolidate the success we have had together and show the world that we are moving forward together."