Horner: New Concorde Agreement won’t be “revolution”

Adam Cooper
22 May, 2024

Red Bull Racing boss Christian Horner says the new Concorde Agreement won’t be a “revolution” and that the deal already offered by Formula 1 will only need tuning. The current Concorde, which runs from 2021-2025, was brokered by former F1 boss Chase Carey in the middle of the COVID pandemic.

Since then Stefano Domenicali has replaced Carey and the overall dynamic is very different as the sport has grown, and team incomes and values have rocketed.

The first draft of the 2026-’30 Concorde was recently circulated to the teams, and Liberty Media CEO noted recently that he expects their current financial health to generate “goodwill” towards F1 in the negotiations. Key talking points include Ferrari’s historical bonus payment as the sport’s oldest team and conditions for new entrants, with Andretti Cadillac still awaiting progress on its planned entry in 2026.

Currently, a new team has to pay a $200m dilution fee to be shared by the 10 established teams, but that could change. “It will be the usual discussion of the teams want more,” said Horner when asked by this writer about the first draft.

“And the promoter wants more. But what we have works relatively well. I think the basics of it are all relatively sound. I think, as the sport continues to evolve and grow, there are areas that we can tune the agreement in, but I think the fundamental basis of it, it’s going to be tuning rather than revolution. to start talking points.”

Asked if the 11th team was a talking point, he said: “I’m sure inevitably it’ll be a discussion point, but sometimes if it’s not broken, don’t fix it.”

Mercedes boss Toto Wolff agreed that there will still be some negotiating.

“I think we got the basic terms on how F1 sees the next five-year term pan out, and there’s some goodness in there,” said the Austrian.

“There’s a few things which we will discuss, pros and cons, and of course there will be some negotiations. But fundamentally, we all want to achieve the same, to grow the sport. That means the bottom line grows, and if the bottom line grows, the teams benefit, and the sport.”

Meanwhile, Ferrari team principal Fred Vasseur didn’t want to be drawn on the subject of the Concorde.

“You can ask the question, but the question is for you because you know perfectly that I will never reply,” he said. “Enjoy to ask the question, but you know that I will never reply!”

The Concorde also has to be signed by the FIA, with Mohammed ben Sulayem keen to consolidate the governing body’s position.

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