Concorde Agreement
On 29 July 2008, the ten currently competing teams created the Formula One Teams Association (FOTA) to negotiate the terms of contract. After a dispute between FOTA and the FIA in the first half of 2009, a new Concorde Agreement was signed by Mosley and all of the teams except BMW Sauber. BMW Sauber had announced it was going to withdraw from Formula One at the end of the season. The new agreement provides for a continuation of the terms of the 1998 agreement. It runs until 31 December 2012.