Bernie Ecclestone has warned F1 teams that he would be prepared to introduce large entry fees if they don't sign up to a new version of the Concorde Agreement.

Discussions about a revised version of the commercial rights-governing agreement are ongoing, with teams believed to be chasing a larger share of the revenue generated by the sport.

If no agreement is reached, Ecclestone said he would have no qualms about charging teams to enter F1, arguing that a similar practice is followed elsewhere.

As things stand, teams pay nothing to either Ecclestone or CVC to compete in the sport with the registration and entry fees they do currently pay going to the FIA.

"I don't even care if we don't have a Concorde Agreement," Ecclestone told the Daily Express. "What we might do is run the championship and ask the teams for money to enter.

"If I want to enter a horse in the Derby, I pay a whacking great entry fee. If you are late with an entry in the Derby, you have to pay a chunk of money to enter the horse. If teams don't want an agreement, we will put more money in our bank."

Ecclestone's comments come after the Express reported that Ferrari, McLaren, Mercedes and Red Bull had met at the weekend to discuss negotiations with Ecclestone and the bid to gain control of F1 being proposed by News Corp.



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