SauceBBC wrote:
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 2010 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 the objective is to get back to the spending levels of the early 90s within two years."
F1 supremo Bernie Ecclestone added that he was "very happy common sense has prevailed" following a meeting of 120 members of the FIA in Paris aimed at resolving the crisis.
Ferrari chief president Luca di Montezemolo, head of the Formula One Teams Association (Fota), added: "I think the decisions we have shared this morning are important. We will have the rules of 2009, same rules for everybody.
606: DEBATE
I knew they would not dare split from F1...
markolee
"It means that we have stability."
Ahead of the meeting, Mosley had insisted that he would not step down as part 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 F1 teams."
However, it appears Mosley has now agreed to move aside when his fourth term as FIA president ends in October, saying: "I will not be up for re-election, now we have peace."
Furthermore, writs that had been threatened against Ferrari and the other teams in Fota - McLaren, BMW Sauber, Renault, Toyota, Red Bull Racing, Toro Rosso and Brawn GP - are likely to be shelved.
"Fota's public stance before this meeting was that they weren't in the mood for negotiation or compromise - and if we take that on board, the fact that they've got their way today must be seen as something of a capitulation by the FIA," reported BBC Five Live's David Croft.
The agreement ends two months of wrangling since Mosley announced after a World Council meeting at the end of April that a voluntary £40m budget cap would be imposed from next season - a plan that prompted a rebellion from eight teams, with Fota announcing on Thursday they were planning a rival series.
I always thought there wasn't much between us, now we've agreed there isn't
FIA president Max Mosley
But the new agreement ends that threat, while still maintaining the "financial viability" of teams which had been targeted with the initial budgetary restrictions.
Mosley said he had not been forced out as part of any bargaining process, and he was happy to be announcing his departure in these circumstances.
"They (the teams) have got the rules they want and the stability, we've got the new teams in and we've got the cost reduction - that's very helpful," he said.
"I can have a peaceful summer for the first time in three years.
"My departure was planned, agreed, arranged - all the staff have known for months but obviously I couldn't say it publicly because the moment you do you lose all your influence. Now I don't need influence, it's a satisfactory situation."
He was also particularly happy that everyone had got what they wanted from the negotiations.
"There is no budget cap because costs will come down to the levels of early 1990s in two years - it's a different way of doing the same thing. I always thought there wasn't much between us, now we've agreed there isn't."
As part of the agreement, existing teams must help new outfits with their engines and chassis.
There has clearly been a trade-off (between Mosley and Fota)
BBC sports news correspondent James Munro
"It's come as a bit of a surprise, given that Fota were planning to meet in Bologna on Thursday to discuss their plans for the breakaway championship," reported BBC sports news correspondent James Munro from Paris.
"But what we got today after a meeting of World Motorsport Council was an impromptu press conference and Mosley began by saying there will be no split, there will be one championship.
"He said that over the course of the negotiations he had been able to secure guarantees from the teams who were threatening to break away that they would try to rein back the levels of their spending to the levels they were spending in the early 90s.
"It was him that had come up with the idea that next season all teams would have a budget cap of about £40m, but there has clearly been a trade-off as he has also agreed to do what he says was always the plan - stand down as president of the FIA this October."
It is not the first time Mosley has promised to stand down as FIA president - in June 2004, he announced he would stand down from his position in October of that year, only to rescind his decision a month later and secure re-election.
But he was adamant that with his 70th birthday approaching, and with the row finally settled, there was no way he would be having a change of heart this time.
Last edited by SirSchloppy (2009-06-24 07:58:54)
