The F1 manufacturers make a statement

The five manufacturers involved in Formula 1, other than Ferrari, have issued a statement about today's meeting of the Formula 1 teams at Cliveden in England. The document was issued by BMW, DaimlerChrysler, Honda, Renault and Toyota. The statement said that the five major manufacturers and nine teams reached the following understanding.

They unanimously agreed upon the establishment of a new framework for their participation in Grand Prix motor racing post 2007. They confirmed and fully endorsed technical rules and regulations and the "Governing Principles for Grand Prix Motor Racing" previously developed by the major manufacturers. They confirmed their support of the principles of premier Grand Prix motor racing post 2007 as described by International Sport and Entertainment today. They agreed that when the series is established they will guarantee from 2006 the supply of competitive engines at an affordable price to a second team which commits to such series. They agree to continue to co-operate together and to establish technical, sporting and governance working groups with appropriate specialists, operating within a defined timetable and brief to document in full a new structure and regulations for the sport so as to put the teams in a position to participate in a timely and orderly manner in 2008. They also agreed that all teams be invited to join on equal terms.

Sauber, Red Bull and Jordan "warmly welcome" the above and agree to respond formally with their positions on the document, following further internal consultation.

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