Teams won't be forced to race if they don't want to - F1 CEO Chase Carey

Formula 1

Teams won't be forced to race if they don't want to - F1 CEO Carey

Carey has suggested an exit strategy is available to the teams

Ian Parkes

Tuesday 1 September 2020 13:28

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Formula 1 CEO Chase Carey has suggested there is an exit strategy in place for any of the 10 teams should they wish to leave the sport following the recent signing of the new Concorde Agreement.

Unlike with previous binding contracts between the teams, the then commercial rights holder in Bernie Ecclestone and the FIA, whereby the teams were tied into the length of the arrangement, with the latest five-year deal it is understood there is a degree of flexibility.

Despite lengthy negotiations and some obvious grumbling from the teams, via Sky Sports F1, Carey insists he did not play "hardball".

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As to whether any team can now leave by serving a short notice period, such as a year, Carey said: "Ultimately, it’s a five-year structure in place.

"But we’re not going to force teams to race if they don’t want to race. They’re not going to race.

"I think they’re all excited about the future we have in front of us. And so we’ve got a structure that again, provides the guidelines, not just for prize money distribution but the governance structure, the sporting technical and financial regulations that will underpin the sport and will let us work together to grow it."

For future deals, Carey is keen to remove what he sees as some of the furore and public debate that surrounds the signing of a new Concorde Agreement.

"Realistically, it was encouraging to see the way the teams came together and supported this," added Carey. "In many ways, I’d like the Concorde Agreement over the future to be a less dramatic moment in time.

"These are franchises that have franchise value and clearly the sport will continue to evolve. The relationship of the teams will continue to evolve.

"But I’m not sure the drama every five, six, eight years is really what optimises our ability to work as partners and grow the sport."

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