The big deal

Formula 1 is on the verge of announcing a commercial agreement to take the sport from now until 2012. The deal is expected to give the teams 50% of all revenues from F1, a settlement that will, in effect, double the money that the teams get from the commercial rights holder. The GPMA has been holding out for a bigger share of the revenues but on Sunday there were signs that a settlement is close with positive meetings at the Nurburgring being followed by others in Jersey and Barcelona.

We expect an announcement later today.

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