Formula 1 extends initial Concorde Agreement deadline

Formula 1 has extended the deadline for teams to sign the new Concorde Agreement by six days to August 18.

The original deadline for teams to sign the new Concorde Agreement passed on Wednesday, but this initial window has now been extended, allowing teams six days more to sign and receive a financial bonus for signing on early.

The deadline has reportedly been extended to cover some 'final small legal comments'.

The final deadline remains August 31.

Speaking during the 70th Anniversary Grand Prix weekend, Mercedes boss Toto Wolff said: “We from Mercedes, we made very clear that we are happy with a more equitable split of the prize fund," Wolff said, speaking last week. "The way success is rewarded and possible for everybody, we agree to.

"We are, I would say, the biggest victim in terms of prize fund loss in all of that. Ferrari has maintained an advantageous position. With Red Bull, it obviously balances out with AlphaTauri. So it's us that are hurt the most.

"I feel that Mercedes has contributed to the sport over the last years. We have apart from being competitive on-track, we have the driver that has clearly the most global appeal.

"We feel that whilst being in those negotiations, we weren't treated in the way we should have been. Therefore there is a bunch of open topics for us that are legal, commercial, and sporting.

"In our point of view, I don't feel ready to sign a Concorde Agreement.”

Related

More F1 news

Latest F1 news

Awkward silence at Bahrain Grand Prix as F1 make Max Verstappen blunder

• 22 minutes ago

F1 standings after Bahrain Grand Prix as Lewis Hamilton stuns and Mercedes star suffers DNF

• 1 hour ago

F1 Results Today: Lewis Hamilton produces stunning comeback after Bahrain Grand Prix chaos in Malaysia

• 1 hour ago

Lewis Hamilton stops on track in unprecedented Bahrain Grand Prix chaos

• Today 10:04

FIA confirm Bahrain Grand Prix DELAYED as rain and lightning strike in Malaysia

• Today 09:52

FIA confirm late Lewis Hamilton Ferrari change at Bahrain Grand Prix

• Today 09:27