At last! We have peace in F1!
By Andrew C., 30 Aug, 2010. 0 Comments
The latest news in the controversy between FIA and FOTA has Max Mosley, the president of FIA, stepping down by October this year. This was announced after the World Motor Sport Council meeting last Wednesday in Paris after reduction in cost package opened a way for a compromise between the disagreeing parties.
Furthermore, it is expected that the current senate president of FIA and head of the Monaco automobile club, Michel Boeri, will quickly assume leadership roles between the FIA and FOTA. It looks like the intended budget cap of Mosely has been totally set aside, although other cost reductions adhered to by FOTA still leads to a significantly lower budget by the 2011 series. Mosley, as it appears, have apparently backed down from all fronts. Continued after the jump!
Earlier, Mosley was insisting for the executive boards of the carmakers participating in the F1 to guarantee commitment until 2014. Now, the teams will just have to sign a new Concord Agreement which will only be good up to the end of 2012. Just as FOTA requested, the published 2010 regulations are to be totally torn up and replaced with this year‚ regulations but revised to accommodate last Wednesday‚ cost-cutting measures agreed upon by the parties. Last Wednesday‚ World Motor Sport Council meeting was the climax of an intensifying pressure that considered not only the feasibility of Mosley‚ continuing FIA leadership, but also of the impending breakaway of other teams.
A Press Relations company was appointed by FOTA this week to spread the news about the plans and was also preparing to go through with a meeting that will brainstorm preparations that included the documentation of the initial contracts in Bologna on Thursday. Meanwhile, the lawyers of CVC, the commercial equity owners for F1, flew to Silverstone the previous weekend and obviously pressured the warring parties very strongly to broker a solution, specifically Mosely who was the moderator. The consequence of last Wednesday‚ meeting will possibly be the rapid formalization of FIA and FOTA press statements and the publication of the final entry list for 2010.
[via f1-live]
Latest Auto Shows
