Could it have been a happier moment? Toto Wolff and Christian Horner engage in conversation during the ill-fated 2020 Australian Grand Prix.
Toto Wolff and Christian Horner have given their reaction to the draft of F1’s latest Concorde Agreement, with the Mercedes and Red Bull team bosses in agreement that it represents a good starting point for negotiations.
The CEO of Liberty Media, Greg Maffei, has recently stated that the teams have been provided with a preliminary version of the Concorde Agreement for the upcoming F1 2026 season. This agreement serves as the crucial document that brings the sport together.
Toto Wolff, Christian Horner react to proposed F1 Concorde Agreement
Additional reporting by Thomas Maher
Maffei expressed confidence that the negotiations with the teams would be smoother compared to the previous Concorde Agreement, which was signed in August 2020 and set to end by the close of F1 2025. This optimism stems from the sport’s significant surge in popularity in recent years.
In an interview with various media outlets, including PlanetF1.com, he revealed, “We have recently shared the revised version of our proposed Concorde Agreement.”
Some teams have engaged in discussions regarding this matter, contemplating its future trajectory. Consequently, we are inclined to believe that it should be comparatively simpler.
Liberty Media and the FIA: the two organisations at the heart of F1
Who owns F1? All you need to know about Liberty Media and how F1 has changed since
FIA explained: What does it stand for and how does it govern F1?
There is always a tension when it comes to teams demanding more money than what we are willing to offer.
However, I am confident in the positive reputation we have built. Not only are they all earning more money from F1, but their individual sponsorship deals have also significantly improved. Take a look at the successful sponsorships at Red Bull, McLaren, and even Ferrari with their new HP agreement.
Hopefully, the teams have made significant progress since our involvement, and it is expected that this positive momentum will continue in the future.
Wolff and Horner expressed their approval of the proposed new Concorde Agreement during the Emilia Romagna Grand Prix at Imola last weekend.
During an interview with media outlets, including Thomas Maher from PlanetF1.com, Wolff expressed that Formula 1 has provided a general outline of their vision for the upcoming five-year period.
“There is a degree of goodness present in it, along with a few aspects that we will address – examining the advantages and disadvantages – and naturally, there will be negotiations involved.”
“But at its core, our common goal remains the same: to foster the growth of the sport.”
This implies that when the bottom line expands, it leads to benefits for both the teams and the sport.
After a successful period for the sport since the last Concorde Agreement, Horner emphasized the importance of evolution rather than revolution.
He further commented, “The conversation will likely revolve around the teams desiring greater benefits and the promoter seeking higher returns. However, our current arrangement functions quite effectively.”
In my opinion, the fundamental aspects of it seem quite solid. However, with the ongoing development and expansion of the sport, there may be areas where we can refine the agreement.
“But I believe that the core essence of it will involve tuning rather than revolution.”
There are times when it is best to leave things as they are if they are not damaged or malfunctioning.
Read next: Toto Wolff counters Christian Horner’s ‘220’ staff exit claim from Mercedes to Red Bull
