The turmoil surrounding the break-away Formula One series has been finalised with FIA President Max Mosley agreeing to not stand for re-election.
After a meeting of the World Motor Sport Council (WMSC) in Paris on Wednesday, Formula One racing’s governing body, the FIA, issued the following statement:
“All currently competing teams have committed to the FIA Formula One World Championship. There will be no alternative series or championship and the rules for 2010 onwards will be the 2009 regulations as well as further regulations agreed prior to 29 April 2009. As part of this agreement, the teams will, within two years, reduce the costs of competing in the championship to the level of the early 1990s. The manufacturer teams have agreed to assist the new entries for 2010 by providing technical assistance. The manufacturer teams have further agreed to the permanent and continuing role of the FIA as the sport’s governing body. They have also committed to the commercial arrangements for the FIA Formula One World Championship until 2012 and have agreed to renegotiate and extend this contract before the end of that period. All teams will adhere to an upgraded version of the governance provisions of the 1998 Concorde Agreement”.
The following teams have been accepted for the 2010 FIA Formula One World Championship:
In view of this new agreement, and with the prospect of a stable future for Formula One, FIA President Max Mosley has confirmed his decision not to stand for re-election in October this year.
“I will not be up for re-election now we have peace,” said Mr Mosley.
Before the meeting, Mosley, who had been under pressure amid disagreements over proposed budget cuts, had insisted that he would not step down as part of the price of any potential agreement and might seek re-election as head of world motor sport.
The Paris meeting was a ‘clear-the-air’ opportunity for member clubs to hear from F1 teams about their plan to break away from the FIA and set up a rival series, a proposal which had led the FIA to prepare a legal claim against FOTA.
Writs against Ferrari and FOTA – which also includes McLaren, BMW Sauber, Renault, Toyota, Red Bull Racing, Toro Rosso and Brawn GP – had been due to be served on Monday, but the FIA held back pending the meeting.