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The main aim of Formula 1’s new Concorde Agreement that all teams have now signed was to fix the flawed financial deals that were in place before.
The previous deals guaranteed the top teams swept up too much of the money, making it almost impossible for the rest to catch up.
In this video, Scott Mitchell explains how the new deals are structured, including smaller bonuses for the bigger or long-standing teams, and better rewards for the rest in a more even distribution of F1’s cash.
