Formula 1 chiefs to follow NFL model in next commercial deal

F1 owners Liberty Media will not continue the example of the sport’s previous regime and set the 10 teams vs. each other when discussing the next commercial deal in 2 years, CEO Greg Maffei announced.

Formula 1’s major stakeholders are bound by the Concorde Agreement and the upcoming deal will be for 4 years – from 2026 until 2030.

Presented by ex-Formula 1 chief Bernie Ecclestone in 1981, talks around the Concorde Agreements would most of the time be tough, with teams competing against each other for better conditions.

That will not be the future of the sport as Liberty Media who gained control of the racing competition in 2017 – has other plans and wants to follow the National Football League approach of having the teams discuss with the F1’s best interest as the main objective.

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Formula 1 has enjoyed an increase in viewership across the world since Liberty Media took control of the sport.

📰: Liberty Media CEO Greg Maffei ensures no return to Ecclestone's "divide and conquer" tactic in finalizing next Concorde Agreement. Emphasizes partnership spirit for F1's growth. #F1 pic.twitter.com/EL7QjJ0loq

— F1 Naija (@f1_naija) June 2, 2024