Formula 1 has agreed the next commercial deal with its teams, including Cadillac’s new squad, until 2030.
F1’s competitors are bound to the sport by a cycle of deals known collectively as a Concorde Agreement, with the most recent, which covers commercial and governance, due to expire at the end of 2025.
On Sunday, ahead of the Australian Grand Prix, F1 confirmed their side of the deal has been finalised, although the teams still need to agree on the governance contract with the FIA.
Attention will now shift to the FIA side of the equation — the governing body has had an increasingly tense relationship with F1’s teams and the championship itself in recent years.
In a statement, F1 said the commercial agreement “secures the long-term economic strength of the sport. 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.”
It added: “The 2026 Concorde Governance Agreement will be finalised in due course.”
The new agreement will include the new 11th team, Cadillac, which will join the grid in 2026.
The new outfit has promised to be building American engines from it’s U.S. headquarters by the end of the current decade.
Source: espn.com