Concorde Agreement to be signed this week

Formula one's political crisis is tipped to end in the middle of this week. It is said that a new Concorde Agreement, to bind the teams and the commercial rights holders to the FIA until the end of 2012, is ready to be given the final green...

Formula one's political crisis is tipped to end in the middle of this week.

It is said that a new Concorde Agreement, to bind the teams and the commercial rights holders to the FIA until the end of 2012, is ready to be given the final green light by Max Mosley and the 26 World Motor Sport Council members.

An addendum to the agreement is the separate so-called Cost Regulation Document, which was discussed and was close to completion after the 13 teams for 2010 met last week at FOTA's Geneva headquarters.

Germany's Auto Motor und Sport reports that Williams' chief executive Adam Parr has been tasked with ensuring that the FOTA teams' undertakings to reduce their budgets to 1990s levels are understood and accepted by the non-FOTA independent teams.

"There have been very long negotiations and now it is time for the conclusion," Hermann Tomczyk, the German club ADAC sport president and an FIA official, told the SID news agency.

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About this article
Series Formula 1
Drivers Adam Parr
Teams Williams