Renault F1 boss Cyril Abiteboul does not think a new Concorde Agreement will be quickly signed by the ten Formula 1 teams as a dozen lawyers or more are now in the process of agreeing on the fine print.
Although the 2021 regulations have finally been published, the equally consequential commercial and governance agreements with the teams must now be agreed and signed.
The teams will meet with Liberty Media and the FIA to discuss and potentially finalise that agreement on Tuesday, but, just like the technical rules, it will also be contentious.
On the commercial side, Liberty is proposing a different system for the distribution of income. And in terms of governance, it is proposed that the Strategy Group and the need for unanimous votes for rule changes be scrapped.
Ferrari’s unique veto could also be under fire.
“A working group has been set to start discussing the details of the documents. I think it’s only after having seen the details that we may assess where we are and what’s required,” team boss Mattia Binotto said in Austin.
Abiteboul agrees that the new Concorde Agreement is unlikely to simply get a rubber stamp. The Frenchman confirmed that every team is “free to sign or not to sign.”
“I expect that the details of the drafting of the document will take much longer. We all know what happens when one lawyer gets involved so we have at least 12 lawyers. It’s going to take a bit of time probably to get a grid.”
He also applauded “Formula One’s new ownership for a more equitable, more entertaining and more sustainable sport, without betraying the DNA that made us love this complex sport, and to which Renault has been loyal since 42 years.
“Despite some compromises made to bring together the diversity of models created by the current Concorde Agreement and its unsustainable discrepancies, these measures represent significant opportunities for a team like ours, increasing our prospects to reduce the gap to the front and challenge for wins and titles in a reasonable time frame.
“We will continue to work together to fine-tune these regulations, but the fact the fundamentals are now secured will allow us to plan the developments required between now and the first race of 2021,” Abiteboul added.