Formula 1 Negotiations: Liberty Media CEO Anticipates Tough Concorde Agreement Talks
As the 2026 Formula 1 season approaches, Liberty Media CEO Greg Maffei is bracing for difficult negotiations with teams regarding the renewal of the Concorde Agreement. The new agreement will coincide with the introduction of all-new technical regulations, marking a significant shift in the sport.
The Concorde Agreement, a three-way pact between the FIA, the Formula One Group, and the teams, governs key aspects such as prize money distribution, commercial rights, and the number of teams on the grid. The latter point has sparked controversy, particularly amidst Andretti’s bid to join the grid by 2026.
Maffei, speaking on a podcast with James Allen, acknowledged that the current healthy state of the sport, characterized by growing audience and commercial interests from major brands, would lead to intense negotiations. “The teams want to make the most of this healthy status, and we might want more money, they shouldn’t be surprised. That’s going to happen,” Maffei stated.
Despite the anticipated “arm wrestling” over numbers, Maffei remains optimistic about the negotiations, citing the collective interest in solidifying a new agreement. He praised the leadership of Chase Carey and Stefano Domenicali, whom he credited with setting a tone for open and transparent negotiations.
Another critical aspect of the Concorde Agreement is the limit on the number of races. With the current 24-race calendar already posing significant demands on team personnel, on-site journalists, and paddock staff, Maffei assured that the sport is not planning to exceed the current race count. “We’re not going above 24 races, that is set,” he emphasized.
While Formula 1 is constantly exploring new opportunities, particularly in Asia, Maffei mentioned that the focus is on finding the right balance between historical circuits and new venues like Las Vegas and Miami. “We’re trying to think about the great historical venues, how do we balance them against new races?” he mused.
As the negotiations unfold, Maffei’s comments offer a glimpse into the complexities of the Concorde Agreement and the delicate dance between teams, the FIA, and the Formula One Group. With the 2026 season on the horizon, one thing is certain – the Formula 1 landscape is poised for significant changes.
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