Published Date:
24 June 2009
FORMULA 1's governing body FIA and the eight teams who intended to break away and create their own FOTA group have today reached an agreement to prevent a breakaway series, says FIA president Max Mosley.
The two groups had been engulfed in a row over planned technical and budgetary changes for the upcoming 2010 season.
It now appears that their disagreements have been resolved
"There will be no split. We have agreed to a reduction of costs," said 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."
"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 - Campos, US F1 and Manor - with their engines and chassis.
The teams who intended to braek away from FIa were Ferrari, McLaren, BMW Sauber, Renault, Toyota, Red Bull Racing, Toro Rosso and Brawn GP.
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Last Updated:
24 June 2009 5:28 PM
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Source:
n/a
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Location:
Dinnington
