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All F1 teams agree terms on new Concorde Agreement

Charles Leclerc of Monaco driving the Scuderia Ferrari SF1000 during the Formula One Grand Prix of Austria (Photo by Clive Mason - Formula 1/Formula 1 via Getty Images)

Formula 1 has announced that all 10 teams have agreed to the new Concorde Agreement, that will take effect next year and run until the end of 2025