F1 Concorde Agreement: All 11 teams sign off new deal

F1 and the FIA have announced all 11 teams have signed the Concorde Governance Agreement.

Back in March, it was confirmed that all of the sport’s teams, including new entrant Cadillac, had signed the Concorde Commercial Agreement.

Now all 11 teams, F1 and the FIA have signed the Governance Agreement part of the Concorde, agreeing to the framework for a new five-year deal that will run until the end of 2030.

F1 president and CEO Stefano Domenicali said: "Today is an important day for Formula 1. As we celebrate seventy-five years of this incredible sport, we are proud to write the next chapter in our long and amazing history. 

"This agreement ensures that Formula 1 is in the best possible position to continue to grow around the world. I want to thank the President of the FIA, Mohammed Ben Sulayem, and all the teams for the collaboration and determination to achieve the best results for the entire sport in our discussions. 

"We have a huge amount to be proud of, but we also are focussed on the opportunities and exciting potential for Formula 1 in the years ahead.”

Mohammed Ben Sulayem, who has been re-elected as FIA president for a second term, added: “The ninth Concorde Agreement secures the FIA Formula One World Championship’s long-term future and I am proud of the dedication that has been invested in this process. 

"I would like to thank Stefano Domenicali and his team in what has been a strong collaboration, building a framework grounded in fairness, stability, and shared ambition. This agreement allows us to continue modernising our regulatory, technological, and operational capabilities, including supporting our race directors, officials, and the thousands of volunteers whose expertise underpin every race. 

"We are ensuring that Formula 1 remains at the forefront of technological innovation, setting new standards in global sport.”

What is the F1 Concorde Agreement?

The F1 Concorde Agreement is a vital contract that outlines the day-to-day running of F1 and dates back to the 1980s.

The latest version is the ninth edition and oversees the start of a new rules cycle for F1, with overhauled power unit and chassis regulations being introduced next season.

The exact details of the F1 Concorde Agreement remain largely confidential.

It states how much prize money the world championship finishing positions are worth, and also outlines how many races can be held per season.

F1 entry fees and the cost cap regulations are other key conditions included within the Concorde Agreement.

It must be signed by every team in the championship.