F1 News
After Ferrari and McLaren Williams also confirms signing Concorde Agreement
- GPblog.com
The deadline for signing the Concorde Agreement has been postponed so many times that we have lost count. Last week the deadline was moved from 12 to 18 August. So that's today and now the agreement seems to be finally signed by everyone.
Earlier this Tuesday McLaren and Ferrari were ahead of them, but now Williams is also ready to commit to Formula 1. Like the other teams, they will do so for five more years after 2021. So a new treaty will have to be drawn up for 2026.
At Williams they did not hesitate to sign this treaty. The team that has been struggling for years in the sport due to financial problems hopes to take advantage of the new regulations.
Williams wants to find its way back to the top in a new era
"Our expectation, aligned with Liberty Media, is that this next era will be characterised by closer and more exciting racing as a result of the new platform of regulations, which include more equitable revenue distribution and a first ever cost cap for our sport."
"The Agreement is a major milestone in the development of Formula One, and also represents a significant opportunity for Williams to continue on our journey back towards the front of the grid”, are the words of team boss Claire Williams in a press release.