F1 Ferrari McLaren Concorde
Bryn Lennon/Getty Images

Ferrari, McLaren first to confirm signing new F1 Concorde Agreement

Leave a comment

LONDON — Ferrari and McLaren became the first teams to confirm they have signed the new F1 Concorde Agreement on the future of Formula One racing.

The agreement will cover the 2021 through 2025 seasons and follows years of intense negotiation on the sport’s commercial side.

“We are pleased to have signed up again … It is an important step to ensure the stability and growth of the sport,” Ferrari CEO Louis Camilleri said in a statement.

“We are very confident that the collaboration with the FIA and Liberty Media can make Formula One even more attractive and spectacular.”

F1 announced Wednesday morning that all 10 teams had signed the new deal.

Ferrari is the only team to have taken part in every season of the F1 World Championship from 1950.

“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,” FIA president Jean Todt said in the Ferrari statement.

The sport has been governed under the terms of successive Concorde Agreements since 1981. The teams, the FIA and F1 organizers keep the agreements’ contents secret.

“Formula 1 has taken another important stride on the road to a sustainable, strong future with the new agreement. This is the right deal at the right time for the sport, its owners, its teams and, most of all, the fans,” McLaren CEO Zak Brown said in a statement.

“A more equitable sport is better for everyone: greater balance in the sharing of revenues among all the teams and clearer, simpler governance that cuts through vested interests and puts the sport first.”

Zach Veach splits with Andretti Autosport for rest of IndyCar season

Gregory Shamus/Getty Images
Leave a comment

Zach Veach will be leaving his Andretti Autosport ride with three races remaining in the season, choosing to explore options after the decision was made he wouldn’t return for 2021.

In a Wednesday release, Andretti Autosport said a replacement driver for the No. 26 Dallara-Honda would be named in the coming days. The NTT IndyCar Series will race Oct. 2-3 at the Indianapolis Motor Speedway road course and then conclude the season Oct. 25 on the streets of St. Petersburg, Florida.

Veach was ranked 11th in the points standings through 11 races of his third season with Andretti. Since a fourth in the June 6 season opener at Texas Motor Speedway, he hadn’t finished higher than 14th.

“The decision was made that I will not be returning in 2021 with Andretti Autosport in the No. 26 Gainbridge car,” Veach said in the Andretti release. “This, along with knowing that limited testing exists for teams due to COVID, have led me to the decision to step out of the car for the remainder of the 2020 IndyCar season. I am doing this to allow the team to have time with other drivers as they prepare for 2021, and so that I can also explore my own 2021 options.

“This is the hardest decision I have ever made, but to me, racing is about family, and it is my belief that you take care of your family. Andretti Autosport is my family and I feel this is what is best to help us all reach the next step. I will forever be grateful to Michael and the team for all of their support over the years. I would not be where I am today if it wasn’t for a relationship that started many years ago with Road to Indy. I will also be forever grateful to Dan Towriss for his friendship and for the opportunity he and Gainbridge have given me.

“My love for this sport and the people involved is unmeasurable, and I look forward to continuing to be amongst the racing world and fans in 2021.”

Said team owner Michael Andretti: “We first welcomed Zach to the Andretti team back in his USF2000 days and have enjoyed watching him grow and evolve as a racer, and a person. His decision to allow us to use the last few races to explore our 2021 options shows the measure of his character.

“Zach has always placed team and family first, and we’re very happy to have had him as part of ours for so many years. We wish him the best in whatever 2021 may bring and will always consider him a friend.”

Andretti fields five full-time cars for Veach, Alexander Rossi, Ryan Hunter-Reay, Marco Andretti and Colton Herta.

It also has fielded James Hinchcliffe in three races this season.