<p>Formula One moved closer to a new seven-year commercial agreement, seen as key to any future flotation, on Saturday after rights holders and the governing FIA said they had signed a preliminary document setting out the final steps.<br /><br /></p>.<p>"The Formula One Group and the FIA have signed an agreement setting out the framework for implementation of the 2013 Concorde Agreement," a statement said. <br /><br />"This agreement will come into force upon approval by the respective governing bodies with the signatory parties in the coming weeks."<br /><br />The 'Concorde Agreement' sets out the commercial side of the sport.</p>
<p>Formula One moved closer to a new seven-year commercial agreement, seen as key to any future flotation, on Saturday after rights holders and the governing FIA said they had signed a preliminary document setting out the final steps.<br /><br /></p>.<p>"The Formula One Group and the FIA have signed an agreement setting out the framework for implementation of the 2013 Concorde Agreement," a statement said. <br /><br />"This agreement will come into force upon approval by the respective governing bodies with the signatory parties in the coming weeks."<br /><br />The 'Concorde Agreement' sets out the commercial side of the sport.</p>