Work is continuing behind the scenes to finalise the 2009 Concorde Agreement, with the document expected to be signed by all 2010 teams within the coming days. Following the peace deal brokered between the teams and the FIA, work began in earnest to finalise a updated version of the Concorde Agreement, and guarantee stability in the sport until 2012 at the earliest.

Although the new Concorde Agreement was understood to have been an updated version of the 1998 agreement, the FIA announced on Thursday that the agreement had been entirely rewritten by FOTA. A first 350-page draft was delivered to the governing body on June 25th, before further changes were made on July 2nd and 3rd.

“The deal that the FIA reached with FOTA in Paris was to extend the 1998 Concorde Agreement with some minor amendments to the governance section,” said the FIA in a statement. “However, on 25 June, instead of the 1998 Agreement with some minor amendments, the FIA received 350 pages of a completely new Concorde Agreement.

“It being wholly impractical to involve the Senate in such detailed negotiations, the contract was handed over to FIA lawyers, who worked on it tirelessly over the weekend 27-28 June and gave comments during a three-hour conference call on Monday 29 June. Then the 350 pages of 25 June turned out not to be the final FOTA/FOA version and elements of a new version appeared, partly on 2 July, partly on 3 July.”

The FIA says 'significant progress' was made yesterday, and further drafts have been drawn up following lengthy discussions between FIA lawyers, FIA president Max Mosley and FIA deputy president for sport Nick Craw.

“Again, FIA lawyers worked over the weekend on 4-5 July, as did FIA President Max Mosley and FIA Deputy President (sport) Nick Craw. Further comments were then given on a three and a half hour lawyers' call on Monday 6 July and again in a conference call yesterday, 8 July, following the circulation of further drafts. Further significant progress was made yesterday evening in yet another conference call.”

Although the new Concorde is expected to be available for signing soon, it's unknown if the FOTA 8 will sign immediately, given the ongoing tensions between the parties.

“At present it seems probable that a final draft of the 2009 Concorde Agreement will be agreed and ready for signature in the coming days,” the FIA concluded.