Concorde Agreement
On 19 January 2005, Ferrari announced that it had signed an extension to the 1997 Concorde Agreement. The extension would expire on 31 December 2012. Later that year, Red Bull and Jordan/Midland also signed an extension. (Jordan had been sold to Midland, but was still racing under the name Jordan.) On 7 December, 2005, Williams became the fourth team to sign an extension to the agreement.