Ferrari announced that it had signed today the Pact of Concord for the five-year period 2021-2025, which will regulate the participation of the Maranello team in the next Formula 1 world championships. In the press release issued to announce the ratification of the agreement, the redhead specified that it had signed two documents. In addition to the Pact of Concord itself, which defines the regulatory and governance aspects within which the maximum car competition will take place, Ferrari has in fact also defined the commercial aspects of its presence in the Circus in an agreement between the Scuderia itself and Formula 1 .
These are the reactions to the announcement of Louis Camilleri, Jean Todt and Chase Carey.
Louis Camilleri, CEO, Ferrari: “We are delighted to have renewed what is known as the Concorde Agreement which will govern Formula One for the next five years. It is a fundamental step to ensure the stability and growth of this sport. We are very confident that the collaboration with the FIA and Liberty Media will make Formula 1 even more attractive and spectacular, while preserving its characteristics of maximum technological challenge. Racing is in Ferrari’s DNA and it is no coincidence that the Scuderia is the only team that has participated in every edition of the FIA Formula One World Championship, becoming an integral and essential part of its success, today as in the past and, above all, , in the future”.
Jean Todt, President of the International Automobile Federation: “We are delighted that Ferrari is one of the first signatories of the new Pact of Concord, a tripartite agreement that will ensure a stable and prosperous future at the FIA Formula 1 World Championship. This is the highest expression of motor racing and it is natural that the Scuderia, the most successful team in the history of the championship, has always been a protagonist and continues to be so for many years to come ”.
Chase Carey, President and CEO, Formula One: “Scuderia Ferrari and Formula One have historically been linked to each other since 1950 and we are happy that this relationship can continue for a long time to come because it is part of the very DNA of this sport. In the path that led to the definition of the new Concorde Agreement, we were able to appreciate the constructive role of Ferrari, always aimed at making the maximum car competition stronger, fairer and more sustainable. Now there are all the conditions to collaborate together for an even more spectacular and attractive Formula 1 for the hundreds of millions of fans around the world who love it “.
–
