Championship team Mercedes and Formula 1 owner Liberty Media are facing each other in negotiations for the new Concorde Treaty, which determines the financial conditions for participating in the sport. “I don’t feel ready to sign it,” said team principal Toto Wolff. However, Liberty warns, “We are not going to delay this any further.”
Wolff and Liberty Media are putting things on edge in this way, because the deadline for signing the agreement is on August 12 – Wednesday next week. After all, the current ‘Concorde’ will expire at the end of this year. The main spearheads of the new agreement are a fairer distribution of prize money and other payouts from the sport, with the top teams able to count on less money.
Although Mercedes is not necessarily against this according to Wolff, according to Wolff the team is “the hardest hit”. This is because Ferrari can still count on extra money due to its separate status, while Red Bull may receive less, but its junior team Alpha Tauri does receive extra money. “So that cancels each other out.”
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‘Not treated fairly’
Certainly considering what Mercedes has contributed to Formula 1 with its sporting achievements, according to Wolff, and by employing ‘the driver with the most international appeal’ in Lewis Hamilton, this is worthwhile. “Although we were also at the negotiating table, we do not feel that we have been treated fairly.”
Mercedes has never openly threatened to stop and has, for example, just deals for 2021 and beyond to provide McLaren, Racing Point and Williams with engines, while the driver Valtteri Bottas has also just booked longer. Nevertheless, according to Wolff, there are still points that need attention in the new proposal on ‘legal, commercial and sporting level’.
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‘No further delay’
“I don’t feel ready to sign a new Concorde Treaty,” warns Wolff. The Austrian in German service puts the ball in front of the Americans. “It can move quickly if you sit around the table together, discuss the issues and are willing to compromise. However, I have not seen that willingness ”, Wolff says.
However, whoever bounces can expect the ball, and a Liberty Media spokesman in turn warns Wolff that “this deal is important for the future of the sport and our fans.” “We will continue with this and will not postpone this any further”, is told to the BBC pointed to the deadline of August 12, with Liberty claiming to have ‘listened carefully to all teams’.
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