Formula 1

The FIA have announced that a deal has been reached with the FOTA and the breakaway series will not happen, instead next year’s Formula One series will continue with a full grid consisting of the existing teams and three new players – Manor, Campos and US F1.

The deal involves the teams reducing championship competing costs down to early 1990s levels within 2 years, via internal cost cutting measures. Thing is, I’m not sure what 1990s levels are, anyone have any idea? It must be higher than the 40 million budget cap though, for the manufacturers to accept it. The manufacturer teams have also agreed to assist the new entries for 2010 by providing technical assistance.

The final bit is that FIA president Max Mosley will not stand for re-election in October this year. That must have been part of the agreement – they want Max out and Max is out. The Max and Bernie circus will end this October. FOTA appears to be in the stronger position now and next they will probably try to get the commercial rights holder to give them more share of the cash, something they have been complaining about for the longest time.