Simplify the following text for a Grade 6 native English-speaking person.
Original: The contract 's terms remain largely confidential , though its known stipulations required the signatory teams to appear and compete in every race and guaranteed their right to do so in order to assure the sport 's newly-acquired television public that they would have a race to watch .
Simplified: The contract terms remain mostly confidential . It is known that teams were required to appear and compete in every race .