Start, Yas Marina, 2024

The FIA has joined Formula One Management and Formula 1 teams in signing a new agreement defining how the sport will be run for the next five years.

FOM announced in March it had reached an agreement with the 11 teams which will contest the 2026 F1 season. The grid will expand next year to accommodate the arrival of Cadillac.

The new agreement binds the 11 teams, plus the commercial rights holder and governing body, until the end of 2030. It will come into force as F1 introduces sweeping new technical regulations next year, including revised hybrid power units and smaller chassis with active aerodynamics.

The Concorde Agreement defines many aspects of how the sport is run, including how many rounds may be scheduled in a season, prize money, licensing restrictions and more.

The new deal “will enable the FIA to invest further in improved race regulation, race direction, stewarding, and technical expertise for the benefit of the championship,” said FOM in a statement, “and means the sport can continue to evolve, providing exciting technological innovation and sporting action for fans, broadcasters and partners, all within a stable and structured regulatory framework.”

The agreement was welcomed by FIA president Mohammed Ben Sulayem, whose unopposed re-election was confirmed today by the FIA, and Stefano Domenicali, who extended his contract as F1 CEO earlier this year to 2029.

“This agreement allows us to continue modernising our regulatory, technological, and operational capabilities, including supporting our race directors, officials, and the thousands of volunteers whose expertise underpin every race,” said Ben Sulayem. “We are ensuring that Formula 1 remains at the forefront of technological innovation, setting new standards in global sport.”

Domenicali said the deal “ensures that Formula 1 is in the best possible position to continue to grow around the world.”

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