- 24 Jun 09, 12:04#128750
News just showing up on BBC!!!
http://news.bbc.co.uk/sport1/hi/motorsp ... 116756.stm
An agreement has been reached between Formula 1's governing body and the teams to prevent a breakaway series, says FIA president Max Mosley.
The two parties had been engulfed in a bitter row over planned budgetary and technical changes for the new season.
But it appears a resolution has now been found and, as part of the deal, Mosley has agreed not to stand for re-election as president.
"There will be no split. We have agreed to a reduction of costs," added Mosley.
"There will be one F1 championship (but) but the objective is to get back to the spending levels of the early '90s within two years."
F1 surpremo Bernie Ecclestone added that he is "very happy commonsense has prevailed", following a meeting of 120 members of the FIA in Paris aimed at resolving the crisis.
606: DEBATE
I knew they would not dare split from F1...
markolee
Ahead of the meeting, FIA president Max Mosley had insisted that he would not step down as part of the price of any potential agreement and might even seek re-election as head of world motor sport.
He hit out at what he described as "wholly unjustified criticism" of the FIA, adding: "It is for the FIA membership, and the FIA membership alone, to decide on its democratically elected leadership, not the motor industry and still less the individuals the industry employs to run its Formula 1 teams."
However, it appears Mosley has now agreed to step down when his fourth term as FIA president ends in October, while writs that had been threatened against Ferrari and the other teams in the Formula 1 Teams Association (Fota) - McLaren, BMW Sauber, Renault, Toyota, Red Bull Racing, Toro Rosso and Brawn GP - are likely to be shelved.
More to follow.
http://news.bbc.co.uk/sport1/hi/motorsp ... 116756.stm
An agreement has been reached between Formula 1's governing body and the teams to prevent a breakaway series, says FIA president Max Mosley.
The two parties had been engulfed in a bitter row over planned budgetary and technical changes for the new season.
But it appears a resolution has now been found and, as part of the deal, Mosley has agreed not to stand for re-election as president.
"There will be no split. We have agreed to a reduction of costs," added Mosley.
"There will be one F1 championship (but) but the objective is to get back to the spending levels of the early '90s within two years."
F1 surpremo Bernie Ecclestone added that he is "very happy commonsense has prevailed", following a meeting of 120 members of the FIA in Paris aimed at resolving the crisis.
606: DEBATE
I knew they would not dare split from F1...
markolee
Ahead of the meeting, FIA president Max Mosley had insisted that he would not step down as part of the price of any potential agreement and might even seek re-election as head of world motor sport.
He hit out at what he described as "wholly unjustified criticism" of the FIA, adding: "It is for the FIA membership, and the FIA membership alone, to decide on its democratically elected leadership, not the motor industry and still less the individuals the industry employs to run its Formula 1 teams."
However, it appears Mosley has now agreed to step down when his fourth term as FIA president ends in October, while writs that had been threatened against Ferrari and the other teams in the Formula 1 Teams Association (Fota) - McLaren, BMW Sauber, Renault, Toyota, Red Bull Racing, Toro Rosso and Brawn GP - are likely to be shelved.
More to follow.