All teams have agreed to the new Concorde Agreement. Even Mercedes.
It took a while, but yesterday was the final deadline for signing the new Concorde Agreement in Formula 1. We wrote yesterday that McLaren were the first team to report that they had signed. Not long after, Ferrari and Williams followed. The three oldest teams from the premier class were thus registered.
It was expected that the other teams would also follow suit, but now it is official. The FIA and Formula 1 report that all ten teams have agreed to the eighth Concorde Agreement in the history of the sport. In any case, this means that they commit to Formula 1 until 2025.
The exact details of the agreement are classified. In any case, we know that agreements have been made about the distribution of the money, the budget ceiling and the new technical rules, which will take effect from 2022. All of this should ensure that the teams are more evenly matched. We can of course only applaud that.
Mercedes was – understandably – the team that resisted the most. However, Toto Wolff announced last week that he had changed his mind. It is therefore no surprise that Mercedes has now also signed.
This says nothing more about whether Mercedes stays in F1 or not.
Well, it says that they probably want to stay next year to pick up two more titles …
Exactly. There is a step-up clause in this deal. If a team would like to retire, they may leave the sport without major consequences, provided they indicate this before March 31 of the relevant calendar year. So very concretely, this signed Concorde Agreement only means that all teams will still be driving in 2021 anyway, and also have expressed the intention to stay until 2025.1
Although the Verstappen faction fervently hopes that Mercedes will leave F1 and throws against it the wildest theories about Stroll, Aston Martin, Toto Wolff, the Illuminati and Källenius, it just doesn’t make sense that Mercedes will leave F1. They win relatively easily, they are clearly the best team in every way, engine, organization, aerodynamics and have the best driver. They can easily complete the business case.