> ## Content Index
> Fetch the complete content index at: https://www.the-race.com/llms.txt
> Use this file to discover other available public pages before exploring further.

# Video: F1’s new Concorde Agreement explained
- URL: https://www.the-race.com/formula-1/video-f1s-new-concorde-agreement-explained/
- Published: 2020-08-21T17:38:37.000Z
- Updated: 2023-09-16T18:19:08.000Z
- Description: Scott Mitchell explains everything you need to know about Formula 1’s new Concorde Agreement and what it means in our latest video
- Author: Matt Beer
- Tags: Formula 1, #video, #image-center-center

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.