It appears that along with Lewis Hamilton's and McLaren's return to form in Hungary, normalcy has also come in the form of an amended Concorde Agreement that was approved by the World Motor Sport Council and the FIA late Friday night. The new contract between the F1 teams and CVC Capital, which is the commercial rights holder for the series, determines how revenue is distributed and sets the sporting and technical regulations through December 31, 2012.
Few details were given about the specifics of the agreement (though they should be released shortly on the FIA's website), but it has been announced that the teams agreed to restrict resources as an alternative form of cost cutting to budget capping. The only team yet to sign the agreement is BMW-Sauber, the principals of which have already announced that they will exit the series at season's end. According to the FIA, the team has until Wednesday to sign the agreement to allow a new operator of the team to race in the series next year.
[Source: F1-Live | Image: Shaun Curry/Getty]