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http://www.autosport.com/news/report.php/id/76495

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.

ltc

YES !!!

Larry Herman

Wow. Looks like FOTA will be a force to reckon with in the future. I hope that it keeps some sense in the rules. It's not surprising in that it may be Bernie's sandbox, but FOTA has all the players that the people want to see, and they have shown their willingness to find another sandbox.

Chads996

And there it is. The pissing match is over. What a great result. Now if we can get Bernie to retire too...

C.

ltc

I am going to guess that Bernie has "quietly" agreed to some "price reductions", thus giving the FOTA teams some additional revenue.

And Max, as a parting gift, please accept this KERS system...

Chads996

...and please sir, if you will...place your tongue here.

BZZZZZZZZZZZZZzzzzzzTTTTT!

C.

DaveM993

I think he would actually want to place another body part there.....

chris walrod

Like Max and Bernie would have let a split happen in the first place. OF COURSE they are going to come to some sort of an agreement. FOTA got really strong really quick, something I really enjoyed watching develop lately. There is power in numbers!!

TheOtherEric

How is this a good thing? It just means more of the same old B.S. just a different manager. No US Grand Prix. No Silverstone. Bernie's still there. Even more races in faraway places that nobody will attend.

trumperZ06

It's been an uphill struggle to run Mad Max out of F1.

I also suspect Bernie's made some $$$ concessions $$$ with the teams.

Larry Herman

Only if it was covered in leather!

ew928

Waiting for the Mosley KERS sex tapes to surface on YouTube.
Whips are SOOO yesterday. KERS is clearly the way to go.


Axe the Max. Woot, yo.



What happens if they create a Chairman position and plop that Max there?
Don't they do that in companies when they push someone out.

Chairman Max. That'll go well in China.

Bob Rouleau

I would not bet against not having races in important markets .. I suspect that losing races in the largest markets for sales was something that FOTA objected to.

A.Wayne

Sorry Bob, there will be no Canadian GP ..................

ilko

The Union won?