Following a dispute between FOTA and the FIA in the first half of 2009, a new Concorde contract was signed by Mosley and all the teams, although Sauber, in transition as the majority owner of BMW, announced shortly before his intention to retire from the sport at the end of the season, waiting for a majority stake in the team to be returned to Peter Sauber, before he signs. The new agreement provides for the continuation of the provisions of the 1998 agreement and will continue until 31 December 2012. At the same meeting of the FIA World Motor Sport Council, a resource limitation programme was also agreed, as well as revised sporting and technical regulations for the 2010 season. [11] On 18 August 27, 2020, Ferrari, McLaren and Williams announced that they had signed the new concorde agreement[20][21][22], while Formula 1 announced the next day that the other teams had also signed the agreement. [23] The new agreement, which was the first to be reached among the new Liberty Media owners, is valid for the 2021-2025 season and will come into effect on January 1, 2021. The agreement is named after the Paris square where the talks took place. „This is an important deal for Formula 1 and while the details are confidential, it offers stability and continuity for the future, so we are delighted to take it through the line,“ Horner said. On 27 March 2006, the five teams supported by the Grand Prix Manufacturers Association – BMW Sauber, Renault, Honda, McLaren and Toyota – submitted their applications for the 2008 season and agreed to remain in the sport until 2012. [8] [9] On 14 May 2006, the five GPMA-supported teams signed a Memorandum of Understanding with commercial rights holders (CVC/Ecclestone), which served as the basis for the next Concorde agreement. [10] There was therefore no full agreement for the 2008 season, with the memorandum, extensions and agreements with the other teams acting as an emergency solution. The extra money taken by the highest-paid teams to date will strengthen this pot, meaning that a comparable final position in the championship will be rewarded with more than it would have been last year, for example. In 1995, the FIA decided to transfer the commercial rights of Formula 1 from bazl to Formula 1 management for a period of 14 years.