With the current season drawing to a conclusion, a new Concorde Agreement has at last been signed between the FIA and the respective Formula 1 parties, which includes the participating teams and Formula 1 supremo Bernie Ecclestone. The new agreement will run from 2013 until 2020, and will include several new features in the development of F1 in the future.
This confirmation comes only several months after both Jean Todt and Bernie Ecclestone announced they were entering the final stages of signing the new agreement, following a meeting between the duo. The new features included in the signing of the Concorde Agreement will include a new process for rule-making in the sport, as well as the inception of strategy group. With the agreement now formally signed between the respective parties, the aim will now switch to the conclusion of a multi-party Concorde Agreement with the teams currently competing in the sport.
Both FIA President Jean Todt and F1 supremo Bernie Ecclestone were understandably thrilled with the signing of the new agreement, which will enhance the framework of the sport for the forceable future. This is the first agreement signed by Jean Todt as the President of the FIA, with the sixth rendition of the agreement signed back in 2009 between Max Mosley and the respective parties.
“We can be proud of this agreement, which establishes a more effective framework for the governance of the FIA Formula One World Championship.” Explained Jean Todt, in a statement issued by the sport’s governing body. “The FIA looks forward to continuing to fulfill its historic role as the guarantor of both regulation and safety in F1 for many years to come.”
With the agreement now officially signed, the sport will reconvene for the 14th race of the season next weekend around Korea’s International Circuit. Sebastian Vettel has won the last three races for Red Bull, and will unquestionably be looking to secure a fourth after his fearsome dominance around the streets of Singapore.
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