Binotto confirms Ferrari kept 'essentials and veto' – Nextgen-Auto.com

Ferrari is very satisfied with the agreement reached with Formula 1, as part of the renewal of the Concorde Agreements for the period 2021 – 2025.

Of course, the bonuses and bonuses are being revised downwards but the Scuderia retains significant advantages, especially since the budgets in F1 will be markedly reduced from 2021. Mattia Binotto also confirms the information we gave you in scoop yesterday: Ferrari is keeping its veto right.

"We got, at a minimum, what was essential for us. And that was to keep the importance and consideration of our brand for F1," explains the team manager.

“We have maintained what we call the right of protection, or the right of veto, which is important to Ferrari because it means what Ferrari means to all of F1 and the history of the sport. So overall, yes, satisfied. "

"You can always get more, you can get less, but what has been achieved is an important result."

More than that, Binotto points out that the signing of the 10 teams, at the same time, "is also a very positive sign that we all have confidence in the future of F1. I think we now have the right basis to make F1 more spectacular and stronger and that we could only do together. "

Of course, we should not expect from 2021 (capped budgets) or 2022 (new single-seaters) extremely close battles which will mix the 1st to the 10th.

"At the very beginning, we will always see differences but in the coming seasons, there will be convergence. The budgets are very much reduced, the cars are simpler, this will inevitably lead to a convergence of performances, to more battles and, in the end, more teams capable of winning. "



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