It seems like only yesterday that the Concorde Agreement was signed. However, the current contract which commits the teams to Formula One will expire at the end of next year and the posturing has already begun.

At the end of last year Ferrari president Luca di Montezemolo said there will be a rival series post-2012 if the teams do not receive more than their current 50% share of F1's profits. Recently he revised his opinion and said Ferrari will stay in F1 "so long as the sport gives us back something for the development of technology of our production cars. Otherwise not." One team which is less vague about its options is Mercedes.

On looking through documents filed earlier this month by the Brackley-based team Pitpass' business editor Chris Sylt was surprised to see specific reference to the Formula One Teams Association (FOTA) running its own rival series to F1. The definitions of the terms used in the document state that: "Constructors' Championship" means the Federation Internationale de l'Automobile Formula One World Constructors' Championship (or any alternative or Formula One Teams Association substitute championship of the same or similar calibre).

Clearly there would be no point in Mercedes including this in the definitions if it didn't think that this was a possibility in future. It makes sense that Mercedes hasn't given up hope of this since it was one of the leading lights of the planned Grand Prix World Championship series and then the Grand Prix Manufacturers Association which followed it.

However, to be frank, Mercedes, Ferrari and any other team for that matter, should spare the fans, and their shareholders, the misery and dump any mentions of a rival FOTA series right now because the chance of it taking place is precisely zero.

The teams' previous attempt at a rival series was so laughable that you would have thought they would realise that they will never be treated seriously again about this. Let's not forget the famous FOTA press release of 18 June 2009 which announced that "the major drivers, stars, brands, sponsors, promoters and companies historically associated with the highest level of motorsport will all feature in this new series."

Just six days later FOTA put an end to its plans and agreed to race in F1 from 2010 instead. Two months after that they signed the Concorde Agreement. If the teams really do care about the messages they put out to the public it seems hard to tell on the basis of this sorry episode.

Interestingly, Sylt understands that a clause in the Concorde Agreement prevents the teams from making any public statement or statements in any medium, whether orally or in writing, or in any country, promoting an equivalent championship or series to the FIA F1 championship until after completion of the last race in 2012.

The contract is also understood to prevent teams from making preparations for a rival series, or soliciting broadcasters or circuits for it, until 1 January 2012. One wonders whether some of the teams will be able to contain themselves until then.