Formula One teams strike new deals: Ecclestone

Updated: 24 March 2012 15:55 IST

Formula One boss Bernie Ecclestone on Saturday said a "majority" of teams had agreed new commercial deals tying them to the sport after the current commercial accord expires this year.

Formula One teams strike new deals: Ecclestone
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Sepang:

Formula One boss Bernie Ecclestone on Saturday said a "majority" of teams had agreed new commercial deals tying them to the sport after the current commercial accord expires this year.

Ecclestone, who is reportedly considering floating Formula One on the stock market, possibly in Singapore, said leading outfits Ferrari, McLaren and Red Bull were among those on board.

"I am very pleased to announce that we have reached commercial agreements with the majority of the current Formula One teams... about the terms on which they will continue competing in Formula One after the current Concorde Agreement expires at the end of this year," he said in a statement on the sport's official website.

Team officials at this week's Malaysian Grand Prix have given no indication that they and the governing body were close to a new Concorde Agreement, deciding how profits are shared.

Many also said they were cool on the idea of buying shares in the popular sport. Ecclestone is not at the Malaysian Grand Prix this week.

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