Peace was reached in Formula One yesterday with a deal to avert a breakaway series and teams agreeing to further cut costs.
Embattled FIA president Max Mosley, who said he would not be seeking re-election in October, had been at loggerheads with eight teams over his plans to introduce a budget cap for next year.
“The basic news is that there will be no split. There will be one championship in 2010 which is I think something we all hoped,” Mosley said after a meeting of the FIA’s World Motor Sport Council. “We’ve reached agreement on a number of items. In particular we’ve reached agreement on reduction of costs. We’ve had significant help from the teams. The objective is to get back to early 1990s levels within two years.”
The Formula One Teams’ Association (FOTA), headed by Ferrari president Luca di Montezemolo, had objected to the budget cap, which they felt could lead to a two-tier series with the teams agreeing to the cap being allowed greater technical freedom.
The governing FIA further fueled matters this month by publishing a 2010 entry list including all the existing 10 teams and three new entrants despite the wrangling.
FOTA responded by announcing plans for a breakaway series next year before last weekend’s British Grand Prix, but the teams have now committed themselves to F1 until 2012.
“Now the manufacturers, that’s to say FOTA, have committed commercially until 2012 ... As far as the FIA is concerned the commitment is indefinite,” the FIA chief said.