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.
Ferrari changes engine on both F1 cars after Vettel failure
70th Anniversary GP: Hamilton again on top in final practice
The danger for Red Bull in its Barcelona F1 team orders choice
OPINION: Red Bull walked into a team orders saga on its way to taking a Spanish Grand Prix 1-2 last weekend, where it took the lead of the 2022 Formula 1 world championships for the first time. But its decisions have added an element of risk to later races.
Why Mercedes' Spanish GP gains aren't as grand as they seemed
Mercedes' strong showing in last weekend's Spanish Grand Prix prompted team boss Toto Wolff to say it had halved its deficit to the leaders and its Formula 1 title chances were back on after a rocky start to the 2022 campaign. But a closer inspection of the team's performance suggests its gains aren't as grand as they first appeared
What's next for the Green Red Bull controversy?
From the 'pink Mercedes' to the 'Green Red Bull', the Silverstone-based team has received suspicious glares from up and down the Formula 1 paddock over its car design exploits. But after being cleared by the FIA over its Spanish Grand Prix updates amid a backdrop of cries of foul play, what's next in this saga?
Spanish Grand Prix Driver Ratings 2022
In an unusually hectic Formula 1 Spanish Grand Prix, Charles Leclerc was denied a dominant performance by his Ferrari engine letting go which allowed Max Verstappen to pick up the pieces. But numerous flashpoints kept the race twisting and turning throughout, with one perfect score from an emerging contender
How Verstappen overcame his and Red Bull’s errors to win in Spain
Charles Leclerc’s Ferrari engine disaster offered an open goal for Max Verstappen and Red Bull to strike, but the reigning Formula 1 world champion still had to solve multiple errors and profit from a begrudged assist from team-mate Sergio Perez, which created an unexpectedly eventful Spanish Grand Prix
Why Red Bull can win a Spanish GP that looked perfect for Ferrari
Formula 1's return to Spain on Friday ended with Ferrari leading the way from Mercedes, while Red Bull could only manage third fastest overall courtesy of Max Verstappen. But its chances of victory are far from remote with a deeper dig into the times despite Ferrari's strong start...
The key aspects of Porsche and Audi's planned F1 entries
The VW Group’s German superpowers of sportscar racing have all but confirmed they are coming to F1 when the next set of engine rules come into force in 2026. Here's why both manufacturers are all set to take the plunge, and crucially how it might work
How Vegas went from byword for F1 indifference to grand Liberty coup
Holding a race in Las Vegas – party central, a city of dreams and decadence and, yes, more than a smattering of tackiness – has been on Liberty Media’s most-wanted list since it acquired Formula 1’s commercial rights. But, as LUKE SMITH explains, F1 has been here before and the relationship didn’t work out