BUDAPEST, July 17 — Ferrari and their engine customer teams have all lost power and performance due to a regulation clampdown this year, the Italian team’s principal Mattia Binotto said today. Speaking at an official video news conference at this weekend’s Hungarian Grand Prix, the...
Ferrari’s German driver Sebastian Vettel steers his car during the second practice session for the Formula One Hungarian Grand Prix at the Hungaroring circuit in Mogyorod near Budapest, Hungary, July 17, 2020. — AFP pic
The Concorde Agreement is the binding contract that involves all the teams and major stake-holders and sets out the sport’s commercial and sporting landscape. This led to claims and counter-claims resulting, after a series of official technical directives, in a controversial and secret pre-season settlement between Ferrari and the FIA, the details of which have not been made public.
“It’s an ongoing process Since last year, a lot of TDs have been released, eventually clarifying some areas.” Binotto said Ferrari were “ready to sign” and “would like to sign, I think, even quite soon. I think that’s important for the future and for clarity.
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