F1 has been engaged with teams for some time over the new commercial agreement that will replace the Concorde Agreement for 2021, with the existing terms expiring at the end of the year.

Teams have been pushing for a more equitable distribution of revenue and changes to the governance process in F1, but not all are happy with where the proposals currently stand.

Wolff made clear last week that Mercedes was not in a position to sign the terms on the table, and said most teams wanted the agreement “cleaning up” before committing.

F1 responded by stressing it would “not be delayed any longer” in getting the terms finalised and the new Concorde Agreement in place.

An early-sign deadline of August 12 had been set by F1, but this has now been pushed back to August 18. Teams receive a financ

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