He added that he would not be keen to offer Hamilton a return to McLaren next year because he was building the team for the future with Lando Norris and Daniel Ricciardo.
A jubilant Brown said McLaren had "a great year" after Lando Norris and his Ferrari-bound team-mate Carlos Sainz finished fifth and sixth in the Abu Dhabi Grand Prix.
The Concorde agreement will cover the 2021 through 2025 seasons and follows years of intense negotiation on the sport's commercial side.
Formula 1: FIA agrees to cap F1 teams spending to $145 million in 2021, will scale down in subsequent years
FIA said in a statement that the cap will be scaled down to $140 million in 2022 and $135 million for 2023-2025, based on a 21-race season. It excludes driver salaries and engine costs.
McLaren chief executive Zak Brown is enthusiastic about the idea of Daniel Ricciardo racing in the Bathurst 1000 touring car race, even if the Formula One schedule makes it unlikely the Australian could be freed up.
Formula 1: McLaren chief executive Zak Brown expects Sebastian Vettel will 'probably end up leaving' F1
Ferrari said on Tuesday that Vettel, who won all his titles with Red Bull between 2010-13, would be leaving after six years with them.
Formula 1: Daniel Ricciardo moves to McLaren to replace Carlos Sainz for 2021 season, to partner Lando Norris
Daniel Ricciardo will join McLaren for the 2021 season thereby taking the seat currently occupied by Carlos Sainz.
Formula 1 2020: McLaren boss expects double-headers at few circuits with travelling related issues likely to emerge
Formula One can be expected to ‘hit a glitch’ as the sport tries to complete a 2020 season stalled by the COVID-19 pandemic but 14-15 races looks feasible, McLaren boss Zak Brown said
Coronavirus outbreak a wake-up call for 'unhealthy' Formula 1, says McLaren team principal Andreas Seidl
Echoing his boss Zak Brown, who warned earlier this month that up to four of the 10 teams could disappear, Seidl made clear there was no scaremongering going on
McLaren became the first Formula One team to furlough staff because of the coronavirus on Wednesday, with drivers Lando Norris and Carlos Sainz joining senior management in taking a pay cut.
Coronavirus pandemic: McLaren employee who tested positive showing no symptoms, quarantined staff doing well
McLaren had already pulled out of the season-opening Australian Grand Prix as a result of the test before last weekend’s scheduled race was cancelled
Formula 1 2020: McLaren CEO Zak Brown says teams monitoring coronavirus situation prior to Vietnam's debut race
Vietnam declared a public health emergency over the epidemic on 1 February and banned all flights to and from China, where more than 1,300 people have died from the virus.
Formula 1 2019: Four team bosses call for end to Ferrari's power of veto, Red Bull's Christian Horner says provision is 'outdated'
Christian Horner, Claire Williams, Zak Brown and Cyril Abiteboul all supported suggestions that the veto was no longer an acceptable part of a modern global sport
Formula 1: Two-time champion Fernando Alonso back with McLaren as ambassador and car tester for next two years
Alonso, a winner in 2005 and 2006 raced for the Woking-based constructor in 2007 and between 2015-2018 but will keep racing at the Indianapolis 500 this year looking to secure motorsport’s Triple Crown having already won a Monaco Grand Prix and a Le Mans 24.
Britain's youngest Formula One driver Lando Norris hopes to react positively to pressure of driving for McLaren
Lando and team-mate Spain's Carlos Sainz — Belgian pilot Stoffel Vandoorne was let go — have a stiff challenge ahead of them in the coming season of Formula One
Formula One: McLaren need to deliver with Renault but harrowing pre-season testing casts doubts for 2018
The possibility that Honda may have come good at last will be hard for the fans to swallow if McLaren fail to live up to expectations.
Fernando Alonso ready for busy 2018 season with McLaren in Formula 1 and Toyota in World Endurance Championship
Fernando Alonso faces the busiest year of any Formula One driver but the Spaniard has played down fears he could be spreading himself too thin by competing in two world championships at once.
Formula 1 podcast: From Fernando Alonso's busy 2018 calendar to Nico Rosberg associating with Hot Wheels
This week's podcast is about how after Mclaren, WEC & Toyota are swayed by Fernando Alonso power and also Nico Rosberg becoming Hot Wheels' Global Brand Ambassador.
Formula One: McLaren confirm split from Honda, sign three-year deal with Renault starting next season
Honda's exit is likely to convince two-time world champion Fernando Alonso, who has repeatedly threatened to quit over the misfiring Honda engines, to stay at McLaren next year.
Formula One views China as a long-term play and a second grand prix in the nation of 1.3 billion people remains years away, according to the sport's chairman and chief executive Chase Carey.