The 11 teams set to compete in Formula 1 from 2026 onwards have all signed the commercial aspect of the new Concorde Agreement, which will come into force next year.
The agreement will last for the next five years, covering the commercial terms under which all the teams will operate under.
The renewed deal between the teams and F1’s commercial rights holders follows on from Stefano Domenicali’s contract extension to continue as the CEO of the Formula One Group.
An F1 statement read: “Formula 1 can confirm that all teams have signed the 2026 Concorde Commercial Agreement, which secures the long-term economic strength of the sport.
“Formula 1 has never been in a stronger position and all stakeholders have seen positive benefits and significant growth.
“We thank all the teams for their engagement during this process to reach the best outcome for the sport.
“The 2026 Concorde Governance Agreement will be finalized in due course.”
Under the new agreement is the inclusion of the 11th team, Cadillac, who received approval from the FIA and F1 to join the sport at the start of this month.
The governing body’s president, Mohammed Ben Sulayem, will have to navigate the next part of the Concorde Agreement, which concerns governance.
In the final year of his first term as FIA president, Ben Sulayem will also have to defend his position if any other runners signal their intention to run for president later this year.
As the teams and F1 present a united front after agreeing to the commercial aspects of the Concorde agreement, the 63-year-old will be on his own as he fights for an improved deal for the FIA.
READ MORE: Liberty Media commits to Stefano Domenicali long-term as F1 CEO through 2029
