PEACE broke out in Formula 1 when a deal was reached to avert a breakaway series and teams agreed to further cost cutting without a budget cap.
Embattled FIA president Max Mosley, who said he would not be seeking re-election, had been at loggerheads with eight teams over his plans to introduce a cap for 2010.
"The basic news is that there will be no split. There will be one championsh
ip in 2010 which is I think something we all hoped," Mosley told a news conference following 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 1 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 fuelled the furore this month by publishing a 2010 entry list including all the existing ten teams and three new entrants despite the wrangling.
FOTA responded by announcing plans for a breakaway series before last weekend's British Grand Prix, but the teams have now committed themselves to Formula 1 until 2012 and the FIA generally.
The FIA published a statement outlining the agreement and reiterated that the ten current teams plus Manor, US F1 and Campos had been accepted for next year. However, the three new teams had agreed to join when a budget cap was still planned.
Mosley, who earlier this week hinted he wanted to stay on in his post and would not be forced out, will now step down when his mandate ends in October. "I will now be able to look at Formula 1 knowing it's peaceful and stable and be able to stop as was always my intention in October of this year so I won't present myself for re-election now that we've got peace," said Mosley, who will in effect step away from F1 immediately and will only govern other motor sports in the coming months, with the FIA senate looking after F1. The Briton survived calls for his resignation last year after a sado-masochistic sex scandal, but won a confidence vote.
F1 commercial supremo Bernie Ecclestone said: "I'm very, very happy that common sense has prevailed which I've always believed it would because the alternative was not good at all. I'm also very, very, very happy the teams have come to their senses to stop spending large amounts of money."
The full article contains 455 words and appears in The Scotsman newspaper.
