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Resolution Found between FOTA and FIA 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 Formula 1 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 the Formula 1 Teams Association (Fota) - McLaren, BMW Sauber, Renault, Toyota, Red Bull Racing, Toro Rosso and Brawn GP - are likely to be shelved. 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. "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 reign 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." |
Hi, Bloody soap opera. I s'pose F1 is in the news again? Cheers Nik |
Hi, interesting. Bye, Jox |
Dear All, Seems we're exchanging short letters. Update in OP Best Regards, Nick |
Hi, I actually wanted a breakaway series. Cheers Alex |
To whom it may concern, I'll believe it when I see it. Hugs, Sean |
Its on autosport, so it must be true. I'm sure Dana will be along to post a thread about this in 3, 2, 1... Mosley: Peace agreed in Formula 1 By Steven English Wednesday, June 24th 2009, 11:49 GMT FIA president Max Mosley has said he will not stand for re-election after claiming an agreement has been reached with Formula 1 teams to avoid a breakaway series. According to sources, Mosley, F1 rights holder Bernie Ecclestone and Formula One Teams' Association [FOTA] chairman Luca di Montezemolo held a series of meetings overnight and into this morning, prior to today's World Motor Sport Council meeting in Paris, aimed at resolving the crisis. As part of the deal, Mosley has agreed not to stand again as president of the governing body, despite earlier this week stating that he felt compelled to do so as long as the threat of a breakaway championship remained. AUTOSPORT understands that as part of the agreement the teams must call off the breakaway series and sign up to a new Concorde Agreement until 2012. "There will be no split," said Mosley. "We have agreed to a reduction of costs. There will be one F1 championship but the objective is to get back to the spending levels of the early 1990s within two years." The FIA is expected to announce the official entry list for the 2010 Formula 1 World Championship later this afternoon. |
<yawn> this was so predictable....... |
Dear FIA I am putting in my application for FIA president. Thank you. -Alex |
Dear all, This shit is The Devine! Smooches, Jox |
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