McLaren ready to commit to new Concorde Agreement

McLaren is ready to commit to Formula 1's hopefully prosperous future, with the Woking-based outfit all set to sign the sport's new Concorde Agreement.

The new covenant devised by commercial rights holder Liberty Media which will binds teams to Grand Prix racing's governance, financial and commercial terms from 2021 to 2026 has been in the works for many months.

McLaren is the first team to publicly declare that it is ready to pledge its allegiance to the all-important contract.

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"The new Concorde Agreement complements the financial, technical and sporting regulations and secures a strong basis for the sustainability, growth and success of Formula 1 and all its stakeholders, said McLaren Racing boss Zak Brown.

"Liberty Media, F1 and the FIA, together with the teams, have worked diligently to protect the sport through the Covid-19 crisis, our return to racing and into the long term.

"McLaren Racing is fully committed to Formula 1 and we are ready to sign this new agreement imminently."

McLaren team principal Andreas Seidl echoed Brown's comments, insisting the papaya squad was aligned with Formula 1's "clear vision" of the sport's future.

"On the McLaren side we are clearly committed to stay in F1," he said.

"With everything we're seeing what's on the table there, together with a clear vision of where the sporting, technical and financial regulations are going to, we are very happy. And in the end, we expect to sign in the immediate future."

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