F1 boss Chase Carey expects turbulent negotiations with teams for new Concorde Agreement
Chase Carey is expecting turbulent times ahead as negotiations with Formula 1 teams appear set to kick off.
As Liberty Media takes over and the Bernie Ecclestone era is put in the past, attention is already turning to the end of the current so-called Concorde Agreement with teams. But as those post-2020 talks begin, new chief executive Carey’s “honeymoon period” might be over.
“I’m not sure my ‘honeymoon period,’ as you put it, lasted more than 24 hours,” American Carey told the latest edition of France’s Auto Hebdo. “The discussions will not be easy, and that’s why we first must agree on our global vision of the sport. If we all work on the same project, the dialogue will be facilitated. But life is not a long, quiet river — I expect turbulence.”
The current agreement is in place until 2020, and until then nothing can be changed. But once that date is up, Liberty Media is determined to rip up the document and start again, as Carey explained to motorsport.com in a recent interview.
“We have the infamous document called the Concorde Agreement, which is this agreement that comes up every six to eight years — it comes up in 2020 — which defines the financial arrangements with teams. I think our goal is to create much more of a long-term partnership, not a partnership that has a point in time that you go out and renegotiate the next eight-year partnership, one where there’s a continuum.”