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F1 resolution found, says Mosley

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FansFocus.Com Newbie

FansFocus.Com

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An agreement has been reached between Formula 1's governing body and the teams to prevent a breakaway series, says FIA president Max Mosley.

 

The two parties had been engulfed in a bitter row over planned budgetary and technical changes for the 2010 season.

 

But it appears a resolution has now been found and, as part of the deal, Mosley has agreed not to stand for re-election as president.

 

"There will be no split. We have agreed to a reduction of costs," added 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."

 

F1 surpremo Bernie Ecclestone added that he is "very happy common sense has prevailed", following a meeting of 120 members of the FIA in Paris aimed at resolving the crisis.

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Big J R Newbie

Big J R

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Mosley not standing for re-election ?

 

That's spankingly good of him !

 

bolt

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