FIA signs up to new Concorde with improved financial means 27 September, 2013 In July Bernie Ecclestone and Jean Todt signed an agreement setting out a framework for the new Concorde Agreement The FIA has finally put pen to paper to conclude a new Concorde Agreement. In late July at the Hungaroring, Formula 1 chief executive Bernie Ecclestone sat down with FIA president Jean Todt and shook hands on the new deal through 2020. But that was only a “framework” for the implementation of the Concorde, a tripartite agreement that binds the teams with the commercial rights holders and the FIA. It emerged on Friday that a “multi-party Concorde Agreement” is still to be concluded. The big stumbling block, however – the FIA’s new financial deal – has now been overcome, and the arrangement between the commercial rights holder and the FIA is now in force, the Paris federation announced on Friday. A statement said that the agreement gives the FIA “significantly improved financial means”. (GMM) Subbed by AJN. Reports on GrandPrix247.com by: staff & contributors, Reuters syndication, GMM service, Formula 1 teams, sponsors & organisations.