McLaren, Tyrrell, Williams sign Concorde Agreement

The three F1 teams that had not signed the new Concorde agreement, McLaren, Tyrrell and Williams, reached a compromise solution with the FIA last week. The teams had not agreed to the initial Concorde proposal, and subsequently were not invited...

The three F1 teams that had not signed the new Concorde agreement, McLaren, Tyrrell and Williams, reached a compromise solution with the FIA last week. The teams had not agreed to the initial Concorde proposal, and subsequently were not invited by the FIA to sign the final agreement.

The new agreement provides each of the three teams with full voting rights and a specific amount as a share of this year's TV revenues. Starting in 1997, the three teams will receive the same share of TV revenues as the other Concorde Agreement signatories.

The agreement confirms FOCA's ownership of all TV rights and trackside advertising until 2012.

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Series Formula 1
Teams McLaren , Williams