Binotto: We got what was important to us with the new Concorde

( – The future of Formula 1 is assured: all ten teams signed the Concorde Agreement until 2025 this week and thus committed themselves to the premier class. Ferrari also put its signature and retained some advantages such as the right of veto and a reduced bonus payment.

Mattia Binotto

Mattia Binotto agrees with the result of the Concode Agreement



“We are satisfied that we have finally come to an end after long discussions,” said team boss Mattia Binotto to ‘Sky’. The talks dragged on for a long time, but the result was great – for Formula 1 as well as Ferrari and all other teams. “We have the right basis. Now it is a matter of making Formula 1 more spectacular and stronger. We must all do that together,” said Binotto.

But did Ferrari get what they wanted with the new deal? “At least we got what was important to us,” says the Italian. Above all, Ferrari wanted recognition that the brand is important to Formula 1. You got that with the right of veto and the so-called “Heritage Bonus” in the form of a bonus payment.

“You can always get more …”

“This is an important status for Ferrari when you consider what Ferrari historically means for Formula 1,” clarifies Binotto. “We are satisfied in that regard. Of course you can always get more, but you can also get less. But what has been achieved is an important result.”

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The new Formula 1 should provide the basis for closer racing and more exciting competition. Above all, the financial regulations with the new budget limit give smaller teams the chance to catch up with the top teams. And thanks to the new technical regulations from 2020, all teams will start from scratch.

“All teams will only start working on the car for 2022 on January 1, 2021. We will therefore all start working on the new car together,” says Binotto. “Efforts are in the right direction. Only 2022 can say whether that will also be the case. We may still see differences at the beginning, but I believe that we will see a convergence in the following seasons.”

Does Ferrari park drivers at Haas?

The signature of all ten teams was an important signal. Haas has also committed to Formula 1 after it was unclear until recently. In addition to Alfa Romeo, the racing team offers Ferrari an important partner – also for placing possible drivers from the academy. So far, Antonio Giovinazzi has only placed one driver at Alfa Romeo, but five juniors are pushing up in Formula 2.

A possible further cockpit at Haas would be an alternative, and that is also being considered at Scuderia: “In the future we may have more drivers at Haas,” confirms Binotto, but also sees opportunities with other teams: “If you have great talent then maybe you can park it with customer teams, but maybe all teams would like to have such a driver. “

His goal in this regard is clear: “At Ferrari we have to look to create great drivers for the future Formula One.”

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