London: Formula 1, its teams and the FIA governing body have signed a new Concorde Agreement to govern how the sport is run through 2030.

The new governance agreement announced Friday was signed by all 11 teams, including Cadillac, which is heading into its first season in 2026.

No details were made public but the FIA signaled it would be able to “invest further in improved race regulation, race direction, stewarding and technical expertise for the benefit of the championship."

The announcement came on the same day that FIA President Mohammed Ben Sulayem was re-elected unopposed for a new four-year term. The commercial part of the new agreement was already signed in March.

Originally a deal to end a power struggle between the FIA and the teams in the early 1980s, various editions of the Concorde Agreement have underpinned how F1 is run. Its contents are kept secret.

F1 is already set for sweeping changes next year with new regulations which make the cars smaller, with more electrical power and movable aerodynamic parts.

The first race of the new season is the Australian Grand Prix on March 8.