Ferrari signs the 2021-2025 Concorde Agreement
August 18 2020 - 11:53AM
Maranello (Italy), 18 August
2020 – Ferrari N.V. (NYSE/MTA: RACE) announces that
Ferrari S.p.A. has signed today the two agreements that will govern
the Scuderia’s participation in the FIA Formula One World
Championship over the five year period from 2021 to 2025.
The agreement, which was signed with the
Fédération Internationale de l’Automobile (“FIA”) and Formula One
World Championship Ltd. (“Formula One”), defines the regulatory and
governance aspects of the highest level motorsport series. The
commercial aspects are defined in the agreement between Ferrari and
Formula One.
Scuderia Ferrari is the only team to have taken
part in every year of the Formula One World Championship from 1950
to the present day. With a fan base of over 400 million around the
world, Ferrari is the most successful team in terms of the number
of Drivers’ (15) and Constructors’ (16) titles and when it comes to
race wins with 238. On 13th September at Mugello, it will become
the first team to reach the milestone of having taken part in 1000
Grands Prix.
Louis Camilleri, CEO,
Ferrari:“We are pleased to have signed up again to what is
commonly known as the Concorde Agreement, which will regulate
Formula One for the next five years. It is an important step to
ensure the stability and growth of the sport. We are very confident
that the collaboration with the FIA and Liberty Media can make
Formula One even more attractive and spectacular, while preserving
its status as the ultimate technological challenge. Racing is in
Ferrari's DNA and it is no coincidence that the Scuderia is the
only team that has participated in every edition of the FIA Formula
One World Championship, becoming an integral and essential part of
its success, today as in the past and, above all, in the
future.”
Jean Todt, President, FIA:“We
are pleased that Ferrari is a signatory to the new Concorde
Agreement, the three-way agreement that assures a stable future for
the FIA Formula One World Championship. This is the pinnacle of
motorsport and it is natural that the most successful team ever in
this series in which it has always been a protagonist, should
continue to be so for many years to come.”
Chase Carey, Chairman and CEO, Formula
One:“Scuderia Ferrari and Formula One have gone hand in
hand since 1950 and we are happy that this relationship is set to
continue for a long time, as it is part of the very DNA of this
sport. In the path that has led to defining the new Concorde
Agreement, we have been able to appreciate Ferrari’s constructive
role, always aimed at making the pinnacle of motorsport stronger,
fairer and more sustainable. Now the scene is set to work together
to ensure Formula One is even more spectacular and attractive for
the hundreds of millions of fans from around the world who love
this sport.”
- CS_Concorde_agreement_ENG
Ferrari NV (NYSE:RACE)
Historical Stock Chart
From Feb 2024 to Mar 2024
Ferrari NV (NYSE:RACE)
Historical Stock Chart
From Mar 2023 to Mar 2024