MAY 30, 2009
And so to the next discussions
The nine FOTA teams put in their entries for the 2010 World Championship yesterday, as predicted, on the basis that the 2009 rules will be carried over in 2010. They have agreed to significant cost-cutting between themselves for the next three years, with a system that they believe will preserve the technical DNA of F1 and reduce costs. This will allow new teams to enter the sport.
All FOTA teams have entered on the basis that the Concorde Agreement is signed by all parties before June 12, after which all FOTA teams will commit to competing in Formula 1 until 2012. The renewal of the Concorde Agreement will provide security for the future of the sport by binding all parties in a formal relationship that will ensure stability via sound governance; that the basis of the 2010 regulations will be the current 2009 regulations, amended in accordance with proposals that FOTA has submitted to the FIA; and on the understanding that all FOTA teams will be permitted to compete on an identical regulatory basis and that they may only be accepted as a whole.
FOTA says that it will collaborate "proactively and productively with the FIA" with a view to establishing a solid foundation on which the future of a healthy and successful F1 in the future.
Now it is down to Max Mosley to decide whether the FIA is willing to accept these requirements in order to maintain the World Championship in its current format.