FIA takes 'important step' with F1 teams
23 October 2012 – F1 governing body the FIA claims it is moving closer to agreeing a new structure of governance with the teams. This follows a meeting between Jean Todt, Bernie Ecclestone and the teams to discuss the new Concorde Agreement.
The agreement, which binds the 12 F1 teams with the FIA and Ecclestone’s Formula One Management (FOM), will take a new shape when the latest version is released from the start of 2013. The current document dates back to 2009.
‘During a constructive meeting, Jean Todt, the FIA President, in co-operation with Bernie Ecclestone, the Commercial Rights Holder, has presented to all F1 Team Principals the new structure of governance, including the new conditions of entry for the Concorde Agreement, starting in 2013,’ an FIA statement explains.
The FIA went on to explain that, when presented with the proposed structure, certain teams immediately questioned the system.
‘All the participants in the meeting were encouraged to seek clarification which resulted in a fruitful and helpful debate on how the new structure would operate in 2013 and beyond,’ the Monday communiqué continues.
‘A further important step has been achieved today to secure the future of the F1 World Championship which should lead to a final settlement to be reached between the FIA, the Commercial Rights Holder and the Teams in the coming weeks.’