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Wolff slams Ferrari, McLaren for 'ridiculous' Concorde Agreement comments

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Mercedes boss Toto Wolff says Ferrari and McLaren have made themselves "a laughingstock" for publicly stating their desire to sign Formula One's 'Concorde Agreement', which governs the sport's future.

The current commercial agreement, setting out the terms under which teams race and the share of revenues, expires at the end of 2020, and the new one will run to 2026. This week Ferrari and McLaren, F1's two most successful teams, said they plan to sign the new deal as soon as they can.

Ferrari's Mattia Binotto said: "As far as Ferrari, we are ready to sign. We would like to sign it, I think, even quite soon.

"Looking ahead with clarity is important. So some are ready to sign."

Racing Point principal Otmar Szafnauer has suggested there are still details in the agreement which need to be further ironed out before all 10 teams sign. In May F1 chairman Chase Carey said negotiations have been put on the backburner by the coronavirus pandemic.

Wolff is annoyed by the way Ferrari and McLaren went public with what have been private negotiations.

"I don't know why some of the other teams made those ridiculous commentaries that they are ready to sign and there seems to be competitors that are not," Wolff said on Saturday evening. "They make themselves a laughing stock with those comments in the public.

"Negotiations should be taking place behind closed doors without a running commentary from competitors, and in that respect we are talking to Liberty, we are keen in staying in F1 and there are some clauses that bother us a little bit, but nothing that can't be solved."

F1's future beyond 2020 has been drastically altered by the coronavirus pandemic.

Major rule changes due next year have been postponed to 2022, but a $145 million budget cap will come in next season. Formula One wants to create a more level playing field to improve competition, reduce costs and provide a fairer distribution of revenues.

Ferrari have historically enjoyed special payments as well as the ability to veto changes they deem to be against their interests.