Concorde Agreement
In 1995 the FIA decided to transfer Formula One's commercial rights from FOCA to Formula One Administration for a 14-year period. In exchange, Ecclestone would make an annual payment. McLaren, Williams, and Tyrrell did not like this arrangement. They rejecting the proposed Concorde Agreement. Ken Tyrrell was upset that Ecclestone, as President of FOCA, had transfer the rights to his own company. Mr. Tyrrell also did not like that the Agreement was secret. He believed that only helped Ecclestone. He felt it weakened the bargaining power of the teams.