Liberty Media to lay down the law with new Concorde Agreement
Liberty Media will put the new Formula 1 Concorde Agreement to teams with a take it or leave it ultimatum.
Formula 1 CEO Chase Carey has said that the agreement Liberty Media present will be a non-negotiable document.
"The reality is that, once you get to 2021, we can just unilaterally say 'these are the rules of the road or, this is the structure that exists', so we don't have to extend anything," Carey told a media conference call including GPFans.
"We can essentially implement and say that, if you're racing, that's the terms on which you're racing.
"Obviously, we're looking to conclude it with the teams, but the Concorde Agreement when we put it forth, will be the Concorde Agreement that goes into effect in 2021, and we are able to unilaterally do that."
While teams are included in the decision making process as the deal is drawn up, Carey's comments deliver a clear message that teams may have to accept some compromises in the new agreement.
As with the season itself, the global lockdown has caused F1 bosses to switch focus from 2021 back to the current season.
"We had been in the final stages of completing the Concorde Agreement when the coronavirus crisis turned everything on it's head," added Carey.
"We decided to put the Concorde on the back-burner for the short-term and prioritise addressing issues relating to 2020 first.
"As we move forward with the 2020 calendar and finalise regulatory changes with the teams, we will once again return to completing the Concorde Agreement in the immediate future."
GPFans is a multi-platform, multi-language brand dedicated to Formula One coverage. We bring you all the ins and outs of the sport, 24/7, everything from up-to-the-minute news and features to the latest viral stories and clips.
We believe that a new generation of exciting, outspoken drivers will make F1 more popular than ever before, and we want to give our users access to as much of their heroes as possible, on and off the track. From Lewis Hamilton to Max Verstappen, Daniel Ricciardo to Sebastian Vettel, we provide in-depth analysis of every every Grand Prix in the season, from Australia to Abu Dhabi.
With Formula One under the new ownership of Liberty Media, how the sport is being covered is evolving, and GPFans will look to be at the heart of this progression into new media, as one of the fastest-growing sites covering the king of motorsports.