Toto Wolff not impressed by Ferrari and Mercedes’ public display of affection for the new Concorde Agreement, says it should remain confidential.
The Concorde Agreement governs how Formula One is to be operated, with special emphasis on the division of television revenue between teams. It is a contract binding the FIA, the Liberty Media, and the Formula One teams. The current Agreement runs till the end of the current season.
Ferrari and McLaren pushing to sign the new agreement
Ferrari F1 Boss Mattia Binotto has stressed on the importance of signing the agreement at the earliest. Apart from the agreement’s significance to Ferrari, Binotto also spoke on its positive impact on the smaller teams.
“The Concorde Agreement and where we are today is the output of long discussions. As far as Ferrari is concerned, we are ready to sign. I think that’s important as well for the small teams somehow because that’s part of the entire package.”
McLaren CEO Zak Brown echoed Binotto’s opinion, stressing on the importance of the agreement on Formula One. He, like Ferrari, is ready to sign on the agreement imminently, which will run for a period of 5 years.
“The new Concorde Agreement complements the financial, technical and sporting regulations and secures a strong basis for the sustainability, growth and success of Formula 1 and all its stakeholders. McLaren Racing is fully committed to Formula 1 and we are ready to sign this new agreement imminently.”
Toto Wolff slams Binotto and Brown over public comments
There have been suggestions that Mercedes are not willing to sign the agreement so soon. Ross Brawn also hinted at it by admitting it hasn’t been signed yet because all clauses haven’t been agreed to. But Toto Wolff called it a minor issue, saying it will be signed immediately after it is sorted.
Toto Wolff then took an indirect jibe on Binotto and Brown. According to Wolff, they are making a “laughing stock” of themselves with their public comments. He was speaking to ESPN on the sticky situation of the agreement.
“They make themselves a laughing stock with those comments in the public.”
Toto Wolff is baffled by the openness shown by Ferrari and McLaren in relation to the Concorde Agreement.https://t.co/rpRlYpedkN #F1 pic.twitter.com/zClZ10ICRB
— Planet F1 (@Planet_F1) July 21, 2020
“I don’t know why some of the other teams made those ridiculous commentaries that they are ready to sign and there seems to be competitors that are not.”
“They make themselves a laughing stock with those comments in the public.”
“Negotiations should be taking place behind closed doors without a running commentary from competitors, and in that respect we are talking to Liberty. We are keen in staying in F1 and there are some clauses that bother us a little bit, but nothing that can’t be solved.”
Also read: Toto Wolff distances himself from the Sebastian Vettel to Aston Martin links
