Woking (AP) - The British Formula 1 racing team McLaren was the first team to announce the signing of the new basic contract.
"This is the right deal at the right time for the sport, its owners, its teams and above all the fans," said McLaren boss Zak Brown according to a statement. The so-called "Concorde Agreement", which regulates the distribution of income between the ten teams, the world motor sport federation FIA and the rights holder, had recently been a long and intense argument. World champion team Mercedes had recently expressed clear criticism. The current contract expires at the end of the year, the new one will cover the period from 2021 to 2025.
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