The meeting between FIA President Max Mosley and the F1 teams, also involving FOM CEO Bernie Ecclestone, is currently taking place in London's Heathrow airport hotel conference rooms.

But the man at the centre of the furore, Luca di Montezemolo, is not in town, despite threatening on Tuesday to pull his famous Ferrari team out of the sport. Montezemolo is also President of the Formula One Teams' Association, but it emerges that the 61-year-old remains in Italy due to the death of his father.

Team boss Stefano Domenicali is instead representing Ferrari in London, while it is believed that Toyota's John Howett is standing in as FOTA Chairman.


"We have always been in support of the budget cap," Williams Chief Executive Adam Parr said as he entered the hotel, amid the ruckus of the world's media.

At the heart of Friday's agenda is not just the budget cap issue, but also the teams' concerns about the general governance of the sport.

Source: GMM
© CAPSIS International

 

Big relief; the story I read made it sound like they had no representation today.

 

I'll be various curious to hear the outcome of this meeting. It'd be a shame if even one of these teams walked out of F1 right now.