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According to reports in the British press, Formula One supremo Bernie Ecclestone is planning to make the other nine teams on the Formula One grid offers they can’t refuse to join Ferrari, the FIA and FOM in signing a new Concorde Agreement that will run through until 2012.
The Times revealed that the 74 year old is planning to offer the nine team bosses a five year plan that will see them receive $3 billion of ‘guaranteed revenue’ at a planned meeting on Tuesday of this week. Broken down it means that each team will receive a minimum of 40 million per season, starting at the end of 2007 and continuing until 2012.
Other incentives include a 35 million dollar ‘signing-on fee’ and a further 7 – 9 million simply because Bernie believes they should have received more for the recently contested 2004 season.
This is all part of a bigger plan to get all ten teams to agree to the new agreement before the rival GPWC offer even better incentives for their signatures. However, teams are expected to reveal their displeasure at ‘preferential treatment‘ for Ferrari.
The only problem I see is the fact that all teams will have 40 mil more so so their pockets will be more full but the costs will rise as F1 Teams spend al they have to keep up or advance.