FIA President Mohammed Ben Sulayem and F1 CEO Stefano Domenicali have held peace talks after growing tensions between the two bodies. RacingNews365 understands that Ben Sulayem and Domenicali have met over the past few months to iron out the difficulties and find a way forward for F1. "The FIA Formula 1 World Championship has never been so strong and is growing globally and the FIA and Formula 1 are committed to delivering the best outcomes for the whole sport," read a joint statement from the FIA and F1 issued to RacingNews365. "To that end, both parties are developing a new strategic plan that will allow us to seize the opportunities and further enhance the potential for F1 in the years ahead." Tensions have risen between the FIA and F1 since Ben Sulayem assumed office in December 2021 in the aftermath of the controversial ending to the 2021 Abu Dhabi Grand Prix, with the FIA launching the investigation into Michael Masi's handling of the safety car restart. In January 2023, F1 accused Ben Sulayem of an 'unacceptable' intervention after reports emerged of Saudi Arabia's Public Investment Fund (PIF) placing a $20 billion price tag on F1 as it considered a bid. Ben Sulayem urged caution over the "inflated" figure, but it led to the further straining of tensions between the FIA and F1, with the Andretti entry bid also driving a wedge between the two bodies. The FIA approved Andretti's prospective entry bid after deeming it met all sporting and technical requirements, but F1 blocked it for a planned 2026 entry after commercial talks, although the door does remain open for 2028 if General Motors is able to supply a power unit. Article continues below.
Impact on Concorde Agreement
The peace talks come as negotiations for the upcoming renewal of the Concorde Agreement take place. Set to come into force for the 2026 season after the expiry of the current terms, the Concorde Agreement is the contract between the FIA, F1 and the 10 teams for how prize money and TV revenues are divided. RacingNews365 understands that the talks between Ben Sulayem and Domenicali were much broader than just for the Concorde Agreement, with the current document being signed in August 2020.
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