Horner expects quick resolution to Concorde stand-off
Red Bull boss Christian Horner expects all 10 Formula 1 teams to sign the new Concorde Agreement despite resistance from Mercedes, anticipating it will be “concluded in the coming days”.
F1 is nearing the conclusion of talks with teams over the new commercial agreements that will be in place from 2021, with the existing Concorde Agreement expiring at the end of the year.
A number of teams have indicated they are ready to sign the Concorde Agreement, but Mercedes F1 chief Toto Wolff said on Friday that he was not yet willing to do so.
Wolff went on to say that most teams were looking for changes to the proposals, but were unwilling to air their concerns publicly and are “up the arse” of F1’s commercial rights holder, Liberty Media.
F1 has set a deadline of August 12 for all teams to sign the new Concorde Agreement, and said on Friday it would “not be delayed any longer” in the wake of Wolff’s comments.
Horner expressed confidence Concorde would get across the line in the coming days despite the concerns.
“This is at least the third time I’ve been through this process on it now. It’s been a different experience this time to previously,” Horner said. “I think the agreement is what it is. The contents of it is confidential between the teams and the promoter.
“You have to look at the bigger picture and look at it as a partnership, in many respects, that we need Liberty to bring as much revenue into the sport and interest and coverage, that ultimately the teams and all participants will benefit from.
“You have to take a bit of a holistic view on these things, you’re never going to get everything you want. I’m sure it will be concluded in the coming days.”
Horner would not go as far as saying that Red Bull was ready to sign Concorde, saying it would “need to see the final version first”, but anticipated all 10 teams currently on the F1 grid will ultimately put pen to paper.
“I think it’s only a matter of days away,” Horner said. “I would envisage that all teams would be signing at some point.”
The updated Concorde Agreement terms are set to heavily change the distribution of revenue between teams, favouring a more equitable weighting in a bid to make the sport fairer.
Changes will also be made to the governance structure, but Ferrari is set to retain its veto power and favourable financial bonuses, which is understood to be the key element of Mercedes’ opposition.
Mercedes was also looking for greater recognition of its recent success and contribution to F1 through talks, according to Wolff.
Previous article
Ferrari changes engine on both F1 cars after Vettel failure
Next article
70th Anniversary GP: Hamilton again on top in final practice
About this article
| Series | Formula 1 |
| Author | Luke Smith |
Sebastian Vettel explains why Aston Martin
Aston Martin AMR21 Unveiling
Aston Martin is back to F1
How Ferrari plans to recover from its 2020 F1 nightmare
The 2020 Formula 1 season was Ferrari's worst for 40 years as it slumped to sixth in the standings. A repeat performance will not be acceptable for the proud Italian team, which has adopted a notably pragmatic approach to forging its path back to the top
Why Aston Martin’s arrival is more than just new green livery
In the most eagerly anticipated Formula 1 team launch of the season, the rebranded Aston Martin squad’s changes go much further than the striking paint job. But rather than a restart, the team hopes to build on top of solid foundations.
The car Aston Martin begins its new F1 journey with
The team formerly known as Racing Point gambled successfully on a Mercedes look-alike in 2020 as it mounted a strong challenge for third in the constructors' race and won the Sakhir GP. Now clothed in British racing green, Aston Martin's first Formula 1 challenger since 1960 provides the clearest indicator yet of what to expect from the new-for-2021 regulations
The tricky driver conundrums facing Mercedes in F1 2021
Ahead of the new Formula 1 season, reigning world champions Mercedes will take on challenges both old and new. This also can be said for its driver conundrum which could become key to sustaining its ongoing success...
How Alpine's cure to 2021 F1 rules starts at the front
A new name, new faces and new colours pulls the rebranded Alpine Formula 1 team into a new era while carrying over core elements of its 2020 car. But under the surface there's more than meets the eye with the A521 which hints at how the team will tackle 2021...
Can Mercedes' W12 retain the team's crown?
Replacing Formula 1's fastest car was never going to be an easy feat for Mercedes. Amid the technical rule tweaks to peg back the W12 and its 2021 rivals, the new Mercedes challenger will remain the target to beat
The pointed note that starts Ferrari's Leclerc vs Sainz era
Ferrari is starting its post-Sebastian Vettel age by welcoming Carlos Sainz in alongside Charles Leclerc. But while Sainz has a tough challenge to match his new teammate, Ferrari is also sending a message that previous intra-team spats must end
The mantra Ocon must follow to challenge Alonso at Alpine
OPINION: It's been an uneasy ride for Esteban Ocon since his F1 comeback - and fresh challenges lie in wait as he's joined by double world champion Fernando Alonso in the newly rebranded Alpine team. STUART CODLING sets out a roadmap to success…
