F1 to Announce New Concorde Agreement

Formula 1 is set to announce a new Concorde Agreement today before the start of today’s race in Melbourne. The deal that regulates all commercial aspects of the Formula 1 World Championship will be in place from 2026 to 2030, replacing the current Concorde Agreement that expires at the end of this year.

Coming just a few days after the announcement that Stefano Domenicali has extended his contract with Liberty Media and will remain as President and CEO of Formula 1 until the end of 2029, today’s announcement guarantees the stability the sport needs to continue to grow in the next five years.

While the terms of the new deal will remain confidential, it’s widely believed the teams and the FIA have managed to negotiate better deals with Formula 1.

This means the prize money pot is increasing by a small margin, as eleven teams will share it from the start of next year, and the Fédération will receive a slightly bigger slice of the cake to cope with the massive increase in operating costs imposed on the regulator with the increase in the number of Grand Prix and the need to employ a lot more personnel for its on-track operations.