The contract's terms remain largely confidential, though its known stipulations required the signatory teams to appear and compete in every race and guaranteed their right to do so in order to assure the sport's newly acquired television public that they would have a race to watch. Also, perhaps most importantly, the agreement granted FOCA the right to televise Formula One races — this right was "leased" to Formula One Promotions and Administration, a company established and owned by Bernie Ecclestone. Another important element was the stability in rules, described as protecting the teams from "the whims of the governing body".