JANUARY 19, 2005
Ferrari signs up with Bernie
The FIA, Ferrari and Formula One Management have announced that they have reached an agreement to prolong the Concorde Agreement from 2008 to 2012. It is not clear what the details of the agreement are but it is certain that the deal will upset Ferrari's supposed partners in the GPWC. Ferrari has previously said that it was committed to the GPWC and wanted a better deal for all the participants in FIA Formula 1 World Championship. This is clearly not the case and Ferrari will no doubt suffer in the months ahead as there will be bitterness against the team for having, in effect, sold out the other GPWC members. What is certain is that Ferrari will get a better deal than previously was the case.