Despite the coronavirus the teams agreed: ''Up to an exciting competition''

The ten Formula 1 teams have signed the new Concorde Agreement, which means that there will be at least ten teams on the Formula 1 grid until 2025. FIA President Jean Todt is very satisfied with the new agreement.

‘’The conclusion of the new Concorde Agreement between the FIA, Formula 1 and all ten of the current teams assures a stable future for the FIA Formula One World Championship’’, this is Todt's statement on the Formula 1 website.

‘’During the unprecedented global challenges currently facing everyone around the world, I am proud of the way that all of Formula 1's stakeholders have worked together over the past months for the best interests of the sport and the fans to agree the pathway for more sustainable, fair and exciting competition at the pinnacle of motor sport’’, concludes Todt.