July 2nd 2009 - Well the biggest crisis to rock Formula 1 for nearly 20 years seems to have been resolved. Though, having said that, things seem to change from day to day but as of now it looks like the issues between the FIA and the FOTA (Formula One Teams Association) have been fully worked out. Below is the statement released by the FIA:
‘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 1990’s.
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 biggest loser in all of this will be the controversial current FIA President, Max Mosley, who has confirmed that he won’t stand for re-election in October. Although he has stated in the past that he wasn’t going to stand anyway, there is a major feeling that the FOTA had many issues with the President and his leaving would have been one of the key factors for them agreeing to the terms being offered.
So with this issue having been resolved all the teams can now focus on the next race, which is looking to be an interesting one with the fight between Red Bull and Brawn heating up with every race.
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