Ferrari ’very satisfied’ with Concorde terms - Binotto

Ferrari is "very satisfied" with the terms of its deal with Formula 1 under the newly-signed 2021-2025 Concorde Agreement.

Earlier, it was believed Mercedes’ unwillingness to sign was because it felt the more attractive terms offered to Ferrari were unfair.

"All the teams have also signed," noted Ferrari team boss Mattia Binotto, "so that shows that we are all positive about the future of the sport."

However, Italian sources report that, as well as the superior financial terms, Ferrari has also retained its controversial and unique rules ’veto’.

"We got what we wanted to get out of it," Binotto, referring to Ferrari’s deal, told Sky Italia.

"That was important to us, because we have meant a lot to the history of Formula 1.

"You can always try to get more and you can always get less in the end, but this is an important result. So we are very satisfied," the Italian added.