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News Why Haas signed the Concorde Agreement

17:18  25 august  2020
17:18  25 august  2020 Source:   motorsport-total.com

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The Concorde Agreement is a contract between the Fédération Internationale de l'Automobile (FIA), the Formula One teams and the Formula One Group which dictates the terms by which the teams

Haas boss Guenther Steiner says the team will not consider drivers until owner Gene Haas has committed to Formula 1 by signing the Concorde Agreement .

Günther Steiner sieht im neuen Agreement eine große Chance für kleine Teams © Motorsport Images Günther Steiner sees the new agreement as a great opportunity for small teams

Last week, all Formula 1 teams signed on the new Concorde Agreement , that secures the future of the premier class from 2021 to 2025. Haas also signed and thereby confirmed the continued existence of its own team, which had previously been in suspense for a long time.

At the beginning of the year, owner Gene Haas emphasized that he only wanted to continue if he saw an opportunity to be competitive. Now the team got off to a difficult start to the late 2020 Formula 1 season, but Haas committed to stick with it for the next five years (if you ignore the annual release clause).

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The Concorde Agreement is a contract between the Fédération Internationale de l'Automobile (FIA), the Formula One teams and the Formula One Administration. The Concorde Agreement defines the agreement about how the teams race, and how the money is divided up.

The first deadline to sign the agreement passed on Tuesday and the final deadline for the current teams to sign up was at the end of August, but The confirmation means that Mercedes and Haas , who had been mulling over whether to stay in the sport, are here to stay until at least the end of 2025.

Haas team boss Günther Steiner explains the motivation behind the decision: "Gene took a look at it, and Formula 1 is still a very good instrument for making his brand name, Haas Automation, known around the world. It works - otherwise he wouldn't. He loves the sport too. "

Cost cap and fairer distribution of money most importantly

Formula 1 remains a major financial commitment for Haas. "But with the new rules, the field should become more even and the commercial aspects more attractive for the smaller teams. That is why Gene has decided to continue," said Steiner. He is addressing the introduction of a budget ceiling on the one hand, and the more equitable distribution of income on the other.

Steiner does not expect the changes in Formula 1 finances to help the small teams immediately, but he believes that they offer good opportunities in the long term: "The budget ceiling should level the field, it will level the field - just maybe not in the first year, but definitely in the medium term, "he explains.

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Rich Energy, sponsors of Haas F1 team, has ended their contract with the American team ahead of the British Grand Prix. All Formula 1 teams have signed the new Concorde Agreement .

"The payouts will do their part too, because they mean that the smaller teams get a little more income. It's never enough for the smaller teams, by the way, but it levels the field and that should be the goal of a sport - anyone can win every day. It will be a while before that happens, but for Formula 1 it is a big step in the right direction. "

Steiner: These changes were long overdue.

In this context, Steiner praises the Formula 1 owners of Liberty Media: They recognized the signs of the times and made the necessary changes. "That would have been necessary a few years ago, but better late than never", he looks back critically on the Ecclestone era.

As far as the 2020 season is concerned, nothing will change for Haas. Major upgrades are not possible, the status quo remains: "That is the plan. We have to understand this car, the VF-20, and build on it. We can try to improve the problems we have this year To iron out in 2021. "

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