World motorsport's governing body, the FIA, and its commercial arm run by Bernie Ecclestone, the Formula One Group, have signed a new agreement for the next seven years.
The so-called Concorde Agreement, which runs from 2013-20, is a contract first introduced in 1981 to oversee how Formula One is managed and its revenues distributed.
The confidential agreement, the first of which expired at the end of last year, sets out the commercial side of the highly lucrative sport, including the distribution of revenues.
It must be agreed by the rights holder, governing body and teams - 11 at present.
Once the document has been signed by all parties, it will come into force.
The FIA says the new agreement provided it with "significantly improved financial means...to fulfill its historic role as the guarantor of both regulation and safety in F1 for many years to come."
