The new Concorde agreement has still not been signed by all teams. At the end of 2019 a good setup was made, but the signatures are still missing. Auto, Motor und Sport expects that this will remain the case for the time being. 

Since last November, the draft agreement has been on the lawyers' table. The technical regulations and the financial agreements have been adapted to the wishes of the teams and the legal advisors of the race stables. Liberty Media expected to be able to announce in April that all teams had signed, but the coronavirus is throwing a spanner in the works.

Focus now on other things

For the time being, the signatures are still pending. Teams agree to the Concorde Agreement for the next five years, not just anything. An unnamed team boss says to the German medium. "Before a team commits for five years, we all need to know if we will survive this crisis. At the moment, there's no talk at all about this subject. There are more important things to do now."

According to AMS, FIA President Jean Todt and Formula 1 boss Chase Carey have realized that the coronavirus situation gives them the golden opportunity to drastically reduce costs. A budget cap of $100 million is even mentioned now. For now, it stands at $175 million. All teams have to give their approval to lower the budget cap even further and especially the top teams seem to get in the way.

Consequences coronavirus possibly decisive

In the absence of a new Concorde agreement, a one-year extension of the current agreement would also be possible. The Concorde Agreement, which is to apply from 2021, is designed for the technical regulations that would originally enter the premier league of motor sport in 2021. However, this can no longer be complied with now, since the technical regulations have been postponed until 2022. A one-year extension of the current agreement would save time to overcome all bureaucratic hurdles. The consequences of the coronavirus for Formula 1 could mean that the top teams would still agree to a lower budget cap and thus make Formula 1 'financially healthier'.