F1: Liberty Media expects complete team buy-in to next Concorde Agreement

–by Mark Cipolloni–

Since Liberty Media has bought F1 the sport has skyrocketed and all the teams are now profitable, whereas under Bernie Ecclestone most were swimming in debt.  Only Bernie was getting filthy rich.

Speaking at a Liberty Media investors Q&A, F1 CEO Stefano Domenicali explained: “We just finished the draft of a new Concorde Agreement are looking to be very quick with finalizing it” that comes into effect in 2026.

“I would say the balance of what is on the table is very important for the eco-system. Just if you think back, more than two, less than five teams were asking for loans from Formula 1 to be alive and to survive and to make sure they were participating in the grands prix.

“Today, with the things we have done, the eco-system is very healthy and sustainable financially, and this has given value to our business. That is something that has been recognized by all the teams.

“So at the appropriate time, I think we are going to sit around the table, I think the teams will understand what we wrote for them, and we will understand what we believe will be the right strategy to tackle that.

“That could happen sooner or later, but we just signed the new one. So, we need to prepare that in the best way that we can, knowing that the elements we put in place are the right ones.”

“Stefano and I were talking about this [the next Concorde Agreement], what we might want and when to go,” said Liberty Media CEO Greg Maffei.

“We think it is in everybody’s interest, the teams, ours and the FIA’s, to solidify the success we collectively have had and show the world we are together moving forward.

“So I don’t think this is going to go to the end the way prior ones have done.”