Jan.23 (GMM) FIA president Jean Todt has played down concerns about F1’s ever-expanding race calendar.
With many in the sport already unhappy about the unprecedentedly-long calendar for 2020, Liberty Media has negotiated a new cap of up to 25 races for the future.
Indeed, the F1 commercial rights holder is open about wanting to add Miami to the schedule, amid rumours of talks with Saudi Arabia and other potential new hosts.
But FIA president Todt is quoted as saying: “I think it will be a long process before being close to 25 races. At the moment we should concentrate on 22, which is the situation.”
Todt indicated that he doesn’t like the complaints about long F1 calendars affecting the quality of life of the people working in the sport.
“I really feel that, and I include myself, that we are so blessed to be in a world where we love what we do. We are privileged,” he said. “Whoever is in F1 is privileged.
“Of course, you have some duties. When I was in other positions, I was working 18 hours every day, six or seven days a week, because I had passion and wanted a result,” the former Ferrari team boss continued.
“Then of course, if you have a beloved family, they will understand. And you don’t do it for all your life.
“Those who are in F1 have much higher salaries than other businesses, and they should be very happy. It doesn’t mean that it’s not hard work.
“But I do a lot of other activities and I see people, if they are blessed, getting $30 a month. So we should not forget that,” Todt said.
F1 Changes Starting in 2021 - After many months of discussions and deliberations, Formula 1’s ten teams have now agreed to the terms of the “Concorde Agreement” that binds them to the world championship for another five years.
This agreement is a contract between Formula 1, the FIA governing body and the teams which wish to compete in the F1 World Championship from 2021 to 2025 and defines how F1’s television revenues and prize money will be distributed.
Formula 1 bosses have been keen to build a strong foundation on which to secure the long-term future for the championship. As such a revolutionary new budget cap will be introduced next year, along with new technical regulations and a new set of sporting rules coming in 2022.
The Covid-19 pandemic has created unprecedented challenges for everyone in 2020, and has served as another reminder that something needed to change. Once the championship restarted, so too could the commercial agreement talks.
By changing the way the prize money is distributed, it was inevitable that some teams would be happy – as they would receive a greater share – and others less so, as they would have a smaller slice.
But ultimately, as they have increasingly done in recent months, all the stakeholders found a way to come together and compromise on the document, which they agreed to in time for the early deadline of August 18th – which brought a small financial incentive.
With the 10 teams signed up for the next five years, and the regulations and cost cap defined, Formula 1 can finally embark on a new era. The new agreement also squashes any speculation that teams like Mercedes or Haas might not be around for the long term.
The hope now is that all F1 teams can develop themselves into robust operations financially while also closing the pack in terms of competitiveness that can in turn improve the racing spectacle.
Roll on 2021!