FIA agrees to change rules if teams commit to F1 | india | Hindustan Times
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FIA agrees to change rules if teams commit to F1

india Updated: Jun 18, 2009 23:21 IST

Reuters
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Formula One’s governing body has made teams a final offer in a bid to prevent the sport from tearing itself apart. Both sides are making last-ditch efforts to reach a compromise deal, however.

In a letter to the five provisional teams which was seen by Reuters on Thursday, FIA president Max Mosley set out the terms of engagement that effectively set in stone agreements reached before talks broke down this week.

Changes to the published regulations included substituting an optional 40 million pound ($65.59 million) budget cap with a 100 million euro one for 2010, that figure dropping to 45 million in 2011.

"There will be self-reporting of compliance using a reputable auditor," he added, in a move to overcome the manufacturers' resistance to opening their books to the governing body.

"Any suspicions of breach would be investigated by a mutually acceptable auditor of suitable standing."

Teams indicated on Wednesday that they were prepared to accept such an independent auditor.

Mosley asked the teams to agree in return to be bound by the terms of the 1998 Concorde Agreement that has now expired.