The Concorde Agreement underpins the commercial elements of the sport and is made up of two documents covering the commercial and governance elements of the sport.

Thus far, only the commercial aspect of the agreement – the deal that links the teams to F1 – has been agreed.

The governance element, which lays out roles and responsibilities between F1 and the FIA, remains under discussion.

“Formula 1 can confirm that all teams have signed the 2026 Concorde Commercial Agreement, which secures the long-term economic strength of the sport,” a statement confirmed.

“Formula 1 has never been in a stronger position and all stakeholders have seen positive benefits and significant growth.

“We thank all the teams for their engagement during this process to reach the best outcome for the sport.

“The 2026 Concorde Governance Agreement will be finalised in due course.”

First signed in 1981, the current iteration of the Concorde Agreement was signed in 2021, where it became a unilateral agreement, replacing the bilateral agreements that were in place from 2013 to 2020.

Contained within the commercial Concorde Agreement is the financial split teams are entitled to, paid out as prize money.

Sources have confirmed that those figures have not changed, with teams happy with the current distribution that sees them take home around half the money Liberty Media generates from the sport each year.

Liberty Media generated $3.41 billion in revenue through F1 last year, with teams receiving just over $1.5 billion of that, split between them.

From next year, that will be split 11 ways with the addition of the TWG Motorsport-run Cadillac entry.

The new organisation has agreed to pay a substantial anti-dilution fee, a sum designed to compensate the incumbent teams for a drop in prize money entitlements.

As previously reported, changes have been made to the anti-dilution fee should a 12th team enter, with the figure now linked to the financial health of F1.

The Concorde Agreement also contains a hard limit on the number of events F1 can schedule, currently capped at 24 but understood to allow for 25 if all teams agree.

The new agreement last for five years, beginning in 2026.