All 10 Formula One teams have committed to remaining in the series until 2025.

The teams have signed the new Concorde Agreement, which sets out the financial terms under which participants compete and the sport's governance.

After Ferrari, Williams and McLaren confirmed they had agreed to the new terms on Tuesday, F1 announced on Wednesday that the remaining seven teams had followed suit.

An F1 statement said: "The agreement will secure the long-term sustainable future for Formula 1 and combined with the new regulations, announced in October 2019 that come into force in 2022, will reduce the financial and on track disparities between the teams, helping to level the playing field, creating closer racing on the track that our fans want to see more of.

"With closer racing we will attract more fans to our sport, benefitting every team, and continue to increase the global growth of Formula One."

F1 chairman and CEO Chase Carey said: "This year has been unprecedented for the world and we are proud that Formula One has come together in recent months to return to racing in a safe way.

"We said earlier in the year that due to the fluid nature of the pandemic, the Concorde Agreement would take additional time to agree and we are pleased that by August we have been able achieve agreement from all ten teams on the plans for the long term future of our sport.

"All our fans want to see closer racing, wheel-to-wheel action and every team having a chance to get on the podium.

"The new Concorde Agreement, in conjunction with the regulations for 2022, will put in place the foundations to make this a reality and create an environment that is both financially fairer and closes the gaps between teams on the race track."

Kimi Raikkonen reiterated he is "not in a hurry" to decide his future in Formula One beyond the 2020 season.

The veteran Finn's contract expires with Alfa Romeo at the end of the delayed campaign, which is in Hungary for round three this weekend.

Raikkonen, racing in his 18th season in F1, stated prior to the start of the season that new rule changes in the series – which are now delayed until 2022 – would have no bearing on his decision.

And the 40-year-old said that he is often in discussions with the team but talks over next season are not at the forefront of his mind.

"Obviously we talk always we're not in a hurry to decide anything so," Raikkonen said in quotes from a video on F1's official website.

Raikkonen and team-mate Antonio Giovinazzi have yet to score a point following the opening two rounds in Austria and the 2007 world champion said qualifying will be crucial to getting off the market in Hungary.

"Obviously it's nice, a nice place to come, nice track, it's slightly different obviously than Austria, you have to qualify well here," he added. 

"It's more difficult to overtake, we have to see what we get and hopefully we can be a bit stronger here.

"It depends on so many things, it doesn't matter if there are no straights if your car doesn't handle at the right times. Qualifying is more important here, let's hope we're in a better grid position here."

Ferrari driver Charles Leclerc and two-time Formula One champion Fernando Alonso are the latest big names to sign up for the virtual 24 Hours of Le Mans.

Leclerc will form part of one of the three Ferrari teams with Alfa Romeo driver Antonio Giovinazzi and a pair of sim racers.

The online race will be held on June 13-14, when the real event – which has been pushed back until September 19-20 due to the coronavirus pandemic – was initially scheduled to take place.

Leclerc has some impressive recent experience in online racing, having been victorious twice in F1's Virtual Grand Prix series and putting together a run of five successive podiums.

Alonso, who has won the past two 24 Hours of Le Mans alongside Sebastien Buemi and Kazuki Nakajima, will join forces with former F1 driver Rubens Barrichello for the FA/RB Allinsports team.

"Back to @24hoursoflemans this time for virtual 24h! Thanks @FIAWEC and all organisers to put this together. Will be fun," tweeted Alonso.

An all-female line-up of Katherine Legge, Tatiana Calderon, Sophia Florsch and sim racer Emily Jones will represent the Richard Mille Racing Team.

On Thursday it was announced Juan Pablo Montoya, who has competed in F1, IndyCar, NASCAR and came third in the LMP2 class at Le Mans in 2018, will drive for Team Penske alongside Simon Pagenaud, Dane Cameron and Ricky Taylor.

Jenson Button, F1 champion in 2009, is set to take part for Team Rocket Zansho, while AlphaTauri driver Pierre Gasly and Jean-Eric Vergne will team up for Veloce Esports.

Earlier this week it was announced Max Verstappen and Lando Norris will compete alongside a pair of sim racers for Team Redline.

Former Ferrari drivers Felipe Massa and Giancarlo Fisichella are also on the list of entrants.

Robert Kubica will serve as Alfa Romeo's reserve driver for the 2020 season.

Kubica returned to the top level of motorsport in 2019 after eight years away, having suffered a massive rallying crash in 2011 that left him with a partially severed arm.

The Pole partnered George Russell for an uncompetitive Williams car, Kubica claiming their sole point of the season as the team almost exclusively occupied the back row.

Outqualified by Russell at all 21 races, Kubica was replaced by Nicholas Latifi at Williams for 2020.

However, he will return to the team that gave him his F1 bow in 2006. Kubica made his debut when the team was known as BMW Sauber and he claimed a pole in Bahrain and a win in Canada for them in 2008.

Kubica's return was revealed in an announcement confirming Polish petroleum company PKN ORLEN will link-up with Alfa Romeo as a title sponsor.

Team principal Frederic Vasseur said: "The exciting new partnership with PKN ORLEN is a statement of intent for both parties.

"It is proof of the ambition of our common project and of our desire to compete at the very top of Formula One.

"We are also delighted to welcome Robert back home and we cannot wait to start working with him.

"He is a driver that needs no introduction: one of the most brilliant in his generation and one who displayed the true meaning of human determination in his fight to return to racing after his rallying accident.

"His feedback will be invaluable as we continue to push our team towards the front of the grid."

Antonio Giovinazzi will stay on as Kimi Raikkonen's team-mate for the 2020 Formula One campaign, Alfa Romeo have confirmed.

Giovinazzi sits 18th in the drivers' standings in 2019, amassing just four points in his first full season.

However, Alfa Romeo have elected to stick with the 25-year-old, who made his debut for the team as Sauber in 2017.

The Italian, though, concedes there will be less room for error in his second campaign.

"I am very happy to be staying with the team for 2020. I am grateful for the incredible level of support I received in my first full season in F1," Giovinazzi said.

"Everyone in the team has stuck by my side since I joined and I am really looking forward to continuing our journey together. We learned a lot this year and I am confident we can make a big step forward next season.

"I won't be a rookie anymore so there won't be any excuses for me. I want to be competitive right from the start of the championship and repay the confidence the team has shown in me."

Lewis Hamilton wrapped up a third successive world title – and his sixth overall – on Sunday with a second-place finish at the United States Grand Prix.

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