Ferrari boss Mattia Binotto happy with the recently signed Concorde Agreement

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Source : Sky Sports

Ferrari boss Mattia Binotto has said that Ferrari is very happy with the outcome of the Concorde Agreement and has said that everything is in place to improve the FOrmula 1 spectacle. Discussions have been ongoing for a couple of years now and the F1 and FIA have now secured the signatures of all 10 F1 teams. The new deal which runs through to 2025, brings in a new era of revenue distribution that will compliment the new technical and budgetory regulations.

“We at least got what was essential for us. Which was to still keep what’s the importance of the condition of our brand for the importance of the F1,” said Binotto. “We have maintained what we call the protection right, or the veto right, which is important for Ferrari because what Ferrari represent for the entire F1 and the history. So overall, yes, satisfied. You can always get more, you can get less, but what has been achieved is an important result.”

“All the 10 teams have signed which is very positive showing that we are all willing really to look positively at the future of F1,” added the Ferrari team principal,” he added. “Now I think we’ve got the right basis it’s really a matter of making F1 even more spectacular, stronger, and we need to do it all together.”

“Maybe at the very start still we may see discrepancies, but I think that looking on the next seasons certainly there will be a convergence,” replied Binotto when asked if he thought the sport’s new era would see the pack close up.” he continued. “Economical budgets are [being] reduced compared to today. The cars are simpler, so we will come to convergence and, yes, it may have more battles, more teams winning [as a result].”

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