McLaren is the first of all Formula 1 teams to sign the new Concord Treaty. This means that the famous brand will remain active in Formula 1 until 2025.
The McLaren Formula 1 team is one of the oldest teams in Formula 1 and for the time being there will be a few more years. McLaren, which for decades was only known for motorsport and only later started making road cars, has agreed to the conditions set by Formula 1 in the new Concord Treaty. It sets out the broad outlines, such as income from prize money and the new maximum budget for the racing class for the coming years.
McLaren F1 is the first team to agree. Other teams will probably follow soon in the coming weeks. A major stumbling block in setting up the agreement was the maximum budget. In the coming years, there will be a budget ceiling for the teams that will continue to be slightly lower. This should not only reduce costs, but also ensure more equality in the playing field. Especially for teams with a large budget, such as Ferrari and Mercedes, there are quite a few hooks and eyes here. McLaren is also in the top 5 in terms of annual budget for Formula 1, but has now signed anyway.
McLaren can probably live with a lower budget for Formula 1, because last spring saw a significant cut in the workforce. Among other things, the F1 branch of the brand was affected by this. However, the track has been going much better in the past two years than it has been for a long time. Drivers Carlos Sainz and Lando Norris scored podium finishes in 2019 and this year respectively. The years before, McLaren struggled enormously, especially when it had a failing Honda engine on board. This year, McLaren is still driving with Renault engines, from next year the power sources will come from Mercedes.