F1 Teams And FIA Finally Agree On 2009 Concorde Agreement
Formula One finally hit peace last night between the FIA and FOTA teams, when Max Mosley signed the new 2009 Concorde Agreement.
FOTA, the teams association, previously said they were going to split from the FIA and F1 over Max Mosley’s beligerent rule changes and constant rule changes. However after a serious of meetings, many of which containing heated moments, the FIA announced this morning that a new agreement securing the F1 future was signed.
“Following approval by the World Motor Sport Council, late last night FIA President Max Mosley signed the 2009 Concorde Agreement, heralding a renewed period of stability for the FIA Formula 1 world championship,” said an FIA statement.
“The WMSC has also approved a slightly revised set of stable sporting and technical regulations (to apply from the 2010 championship onwards), which have been agreed by the FIA and the teams and which will be published shortly on the FIA’s website.
“The new Concorde Agreement, which runs until 31 December 2012, provides for a continuation of the procedures in the 1998 Concorde Agreement, with decisions taken by working groups and commissions, upon which all teams have voting rights, before going to the WMSC for ratification.”
All of the teams are signed up, except BMW who are have another 4 days onto which to sign an agreement of a place next season.
A meeting will take place soon to discuss more cost cutting measures.