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Cap cut, gearbox freeze & a one-year deal
Liberty Media had hoped to have the first signature on a new Concorde Agreement in April but that is now on hold with F1's owners considering a one-year option. This year marks the final season of the current Concorde Agreement, the deal that governs Formula 1. Liberty Media has been in negotiations with the teams for several months and had expected to secure the first signature in the coming weeks. That is now on hold as the coronavirus pandemic wrecks havoc around the globe, including on the sporting world. Losing money as one by one races are cancelled or postponed, the Formula 1 teams are said to have switched to survival mode. 'Before any team signs up for five years, we all need to...
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6y ago from PlanetF1.com
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