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GP Week : Issue 187
Monaco Singapore Abu Dhabi Austin 24/25/26 May 21 / 22 September 1 / 3 November 15/16/17 November AMBER LOUNGE THE ULTIMATE VIP GRAND PRIX EXPERIENCE 2013 CELEBRATING 10 YEARS VIP Parties Fashion Shows Dining Hospitality Live Acts BlackBook-210x282.indd 1 01/03/2013 17:52 F1 >>> nEWs CONCORDE AGREEMENT ON IT'S WAY – AT LAST! The F1 world heaved a sigh of relief this weekend when it was announced that the FIA and the Formula One Group had signed a Memorandum of understanding laying out the framework for the 2013 Concorde Agreement. “T he Formula One Group and the FIA have signed an agreement setting out the framework for implementation of the 2013 Concorde Agreement,” read a statement released by the FIA on Saturday morning. “T his agreement will come into force upon approval by the respective governing bodies of the signatory parties in the coming weeks. Fur ther information on this agreement will be available after receipt of such approval.” While the Memorandum – agreed on Friday, and signed publicly on Saturday morning in the Budapest paddock – does not take the place of the formal Concorde, it is an agreement to agree. There remain ‘i ’s to be dotted and ‘t ’s crossed, but in principal the groundwork has been prepared for the nex t seven years of F1 governance, regulation, and financial distribution. “T here have obviously been lots of things we've had to sort out,” Ecclestone told Autosport. “It's a longer term thing, and this forms most of the Concorde Agreement for the teams as well, so we can get the whole lot put to bed now. It's good. We're with the FIA, and that's it. It's for seven years, and what it does is give a little more input from the teams which we've been fighting for concerning regulations, so they can't complain.” There were a number of sticking points that led to the delay of the 2013 Concorde Agreement, not least a long-running battle over the continuing freedom of the press. Media access to Formula One is split bet ween FOM and the FIA , with the governing body responsible for accrediting photographers and print journalists, while radio and broadcast journalists receive their passes through FOM. Broadcast media currently pay FOM tens of thousands of euros per year for the right to cover Formula One, and FIA president Jean Todt was adamant that the four th estate be allowed to continue to cover the championship free of charge. FIA accreditation has long been seen as a form of protection from the sometimes mercurial whims of the powers that be within the sport, and it was essential that the protection be maintained. But the real victory for the FIA this weekend was in the shift in the balance of power that the forthcoming Concorde Agreement represents. Previously, the FIA was but one voice in a group of 20 stakeholders, all of whom had influence. The redistribution of power moving forward will see those 20 stakeholders reduced to a group of 18, split into three parties with six votes apiece: the FIA, the Formula One Group, and the teams. Should the FIA and the commercial rights holder find themselves in opposing corners on an issue, it will be up to the teams to cast deciding votes that will – in theory – benefit the sport at large, and not its financiers. 8 GPWEEK.com // 8 GPWEEK.com // PARTNERS: