Formula 1, the FIA, and the 11 teams of the World Championship have announced this Friday that they have signed the ninth Concorde Agreement, a contract that defines the regulatory framework and the commercial and governance conditions of the championship until 2030.
The Concorde Agreement ensures that the main stakeholders in the sport - Formula 1 as the holder of the commercial rights, the FIA as the world governing body of motorsport, and the teams - "are fully aligned on the fundamental commercial and governance structures that will support the next five years of a category that is entering a new era in 2026 with exciting and innovative regulations for power units and cars".
"This underlines the commitment of all parties to continue growing and developing the sport, and to continue driving the significant expansion it has experienced in recent years," indicates F1 on its official website.
Likewise, the agreement "will allow the FIA to invest more in improving race regulations, their direction, supervision, and technical knowledge for the benefit of the championship, and means that the sport can continue to evolve, providing exciting technological innovations and sporting action for fans, television broadcasters, and partners, all within a stable and structured regulatory framework".
"In combination with a record audience growth, a dynamic race calendar, and increasing participation from younger generations, the Formula 1 World Championship enters this new stage with an unprecedented momentum," the statement indicates.
