Formula 1
Formula 1
28 Mar
Event finished
R
Emilia Romagna GP
18 Apr
FP1 in
3 days
R
Portuguese GP
02 May
FP1 in
17 days
09 May
Next event in
23 days
23 May
Race in
40 days
R
Azerbaijan GP
06 Jun
Race in
54 days
13 Jun
Race in
62 days
27 Jun
Race in
75 days
04 Jul
Next event in
79 days
18 Jul
Race in
96 days
R
Hungarian GP
01 Aug
Race in
110 days
29 Aug
Race in
138 days
05 Sep
Race in
145 days
26 Sep
Race in
166 days
R
Singapore GP
03 Oct
Next event in
170 days
10 Oct
Race in
180 days
R
United States GP
24 Oct
Race in
195 days
31 Oct
Race in
202 days
R
Australian GP
21 Nov
Race in
222 days
R
Abu Dhabi GP
12 Dec
Race in
243 days

New Concorde "the biggest transition F1 has ever seen" - Wolff

Toto Wolff believes Formula 1 is set for the "biggest transition" in its history through the upcoming changes to the technical and financial structure of the sport.

New Concorde "the biggest transition F1 has ever seen" - Wolff

F1 announced last Wednesday that the entire grid had met the early-sign deadline for the new Concorde Agreement, committing to the revised commercial terms that will last from 2021 to 2025.

At the heart of the new agreement is a more equal distribution of prize money, which is part of F1's drive to make the sport more sustainable and competitive.

The revised commercial terms will work in tandem with the 2021 budget cap and the updated technical regulations that will come into force in 2022.

Mercedes F1 chief Wolff said ahead of this weekend's Belgian Grand Prix that it was no surprise to see all 10 teams sign up, but he nevertheless felt pleased to see talks get across the line.

Wolff also predicted that F1 would face some of the biggest changes in its history as a result of all the planned changes.

"We have always said that we wanted to stay in F1, so the agreement wasn't necessarily all that surprising," Wolff said.

"But we're happy that we could bring the negotiations to a positive conclusion.

"We are committed to our sport and we're looking forward to the upcoming years which will see the biggest transition F1 has ever seen.

"This will reward agile, open-minded teams who can adapt successfully to the demands of the new rules."

Read Also:

Mercedes had been in a stand-off with F1 over the new Concorde Agreement, feeling its contribution to the sport and recent success had not been reflected through negotiations.

Wolff previously said at the British Grand Prix that Mercedes would be "the biggest victim" in terms of prize fund loss as the likes of Ferrari and Red Bull would retain their advantageous positions.

But in the week following the Silverstone race, Wolff held "very constructive discussions" with F1 CEO Chase Carey, paving the way for Mercedes to sign up to the new Concorde Agreement.

Wolff confirmed at the Spanish Grand Prix that the team had moved into a position where it was ready to put pen to paper on the new terms, meaning it could meet the early-sign deadline.

shares
comments

Related video

Ferrari identifies issue that caused Leclerc's DNF in Spain

Previous article

Ferrari identifies issue that caused Leclerc's DNF in Spain

Next article

F1 engine mode clampdown targets reliability fix claims

F1 engine mode clampdown targets reliability fix claims
Load comments

About this article

Series Formula 1
Teams Mercedes
Author Luke Smith
The 'new' F1 drivers who need to improve at Imola Prime

The 'new' F1 drivers who need to improve at Imola

After a pandemic-hit winter of seat-swapping, F1 kicked off its season with several new faces in town, other drivers adapting to new environments, and one making a much-anticipated comeback. Ben Anderson looks at who made the most of their opportunity and who needs to try harder…

The delay that quashed Aston Martin’s last F1 venture Prime

The delay that quashed Aston Martin’s last F1 venture

Aston Martin’s only previous foray into Formula 1 in the late 1950s was a short-lived and unsuccessful affair. But it could have been so different, says Nigel Roebuck.

Formula 1
Apr 10, 2021
Verstappen exclusive: Why lack of titles won't hurt Red Bull's ace Prime

Verstappen exclusive: Why lack of titles won't hurt Red Bull's ace

Max Verstappen’s star quality in Formula 1 is clear. Now equipped with a Red Bull car that is, right now, the world title favourite and the experience to support his talent, could 2021 be the Dutchman’s year to topple the dominant force of Lewis Hamilton and Mercedes?

Formula 1
Apr 9, 2021
Is Formula 1 as good as it has ever been now? Prime

Is Formula 1 as good as it has ever been now?

For many, many years Formula 1 has strived to do and to be better on all fronts. With close competition, a growing fanbase, a stable political landscape and rules in place to encourage sustainability, 2021 is on course to provide an unexpected peak

Formula 1
Apr 8, 2021
How Williams’ new structure adheres to a growing F1 trend Prime

How Williams’ new structure adheres to a growing F1 trend

Williams held out against the tide for many years but, as MARK GALLAGHER explains, the age of the owner-manager is long gone

Formula 1
Apr 6, 2021
When a journeyman driver's F1 career lasted just 800m Prime

When a journeyman driver's F1 career lasted just 800m

Nikita Mazepin’s Formula 1 debut at the Bahrain Grand Prix lasted mere corners before he wiped himself out in a shunt, but his financial backing affords him a full season. Back in 1993 though, Marco Apicella was an F1 driver for just 800m before a first corner fracas ended his career. Here’s the story of his very short time at motorsport’s pinnacle.

Formula 1
Apr 4, 2021
How Raikkonen's rapid rise stalled his teammate's F1 career climb Prime

How Raikkonen's rapid rise stalled his teammate's F1 career climb

Kimi Raikkonen's emergence as a Formula 1 star in his rookie campaign remains one of the legendary storylines from 2001, but his exploits had an unwanted impact on his Sauber teammate's own prospects. Twenty years on from his first F1 podium at the Brazilian GP, here's how Nick Heidfeld's career was chilled by the Iceman.

Formula 1
Apr 3, 2021
The nightmare timing that now hinders Mercedes Prime

The nightmare timing that now hinders Mercedes

Mercedes and Lewis Hamilton took victory at the Bahrain Grand Prix despite, for a change, not having the quickest car. But any hopes of developing its W12 to surpass Red Bull's RB16B in terms of outright speed could not have come at a worse time.

Formula 1
Apr 2, 2021