FIA issues statement on Concorde Agreement

22/10/2012

FIA President Jean Todt is confident that everything is now in place for the teams to agree a new Concorde Agreement for 2013 and beyond.

A brief statement issued by Formula One's governing body tonight reads:

"During a constructive meeting, Jean Todt, the FIA President, in co-operation with Bernie Ecclestone, the Commercial Rights Holder, has presented to all F1 Team Principals the new structure of governance, including the new conditions of entry for the Concorde Agreement, starting in 2013.

All the participants in the meeting were encouraged to seek clarification which resulted in a fruitful and helpful debate on how the new structure would operate in 2013 and beyond.

A further important step has been achieved today to secure the future of the F1 World Championship which should lead to a final settlement to be reached between the FIA, the Commercial Rights Holder and the Teams in the coming weeks."