Formula One Promotions and Administration was a company formed by Bernie Ecclestone to manage the commercial rights of Formula One. Bernard Charles "Bernie" Ecclestone (born 28 October 1930 near Bungay Suffolk, England) is the president and CEO of
These rights were originally granted to the Formula One Constructors Association (FOCA) by the FIA under the terms of the Concorde Agreement. The Formula One Constructors' Association (FOCA is an organization of the Chassis builders (constructors who design and build the cars that race in the FIA The Concorde Agreement is a contract between the FIA, the Formula One teams and Formula One Administration which dictates the terms by which FOCA allowed FOPA to manage the rights on its behalf.
In 1995 the FIA decided to transfer Formula One's commercial rights from FOCA to Formula One Administration for a 14 year period. The Formula One Group is a group of companies responsible for the promotion of the FIA Formula One World Championship In exchange, Ecclestone would provide an annual payment. Team McLaren, WilliamsF1 and Tyrrell, protested by rejecting the proposed Concorde Agreement (negotiations for which started as early as 1993). McLaren, founded in 1963 by New Zealander Bruce McLaren (1937&ndash1970 is a Formula One team based in Woking, Surrey, UK Not to be confused with Frank Williams Racing Cars, formed by Frank Williams 1967 Lower Formulae (1958 - 1967 Tyrrell Racing first came into being in 1958 running Formula Three cars for Ken Tyrrell and local stars Ken Tyrrell in particular was enraged by the fact that Ecclestone, as President of FOCA had negotiated the transfer of the rights from the organisation to his own company.
FOPA ceased to exist in 1997 with the reorganisation of Eccelstone's companies which are now headed by SLEC Holdings. The Formula One Group is a group of companies responsible for the promotion of the FIA Formula One World Championship
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