Concorde Agreement

The Concorde Agreement is a contract between the FIA, the ten Formula One teams and Formula One Administration which dictates the terms by which the teams compete in in races and take their share of the television revenues and prize money. There have in fact been five separate Concorde Agreements, all of whose terms are kept strictly secret: the first in 1981, others in 1987, 1992, and 1997, and the present agreement in 1998, which superseded the 1997 agreement and is due to expire at the end of 2007.

References

• The Economist: Grand prix, grand prizes
• GrandPrix.com: Who owns what in F1 these days?
• European Commission