Sports
Formula 1 breakaway prevented
Published 24 June, 2009, 17:16
FIA president Max Mosley says the attempted breakaway of eight teams from Formula 1 has been avoided and that they will take part in 2010 championships, AP news agency reports.
A cost cutting deal between FIA and Formula One Teams Association (FOTA) was reached during a meeting in Paris on Wednesday.
The $65 million budget cap, which the teams have argued against, remained, but as a result of the deal Mosley won’t run for FIA president in October’s election.
“I will not be up for reelection now that we have peace,” Max Mosley said.
The 63-year-old, who became the organization’s president back in 1993, had announced over the weekend that he was seriously considering running for a fifth term as head of F1's governing body.
Last Friday, eight teams – Ferrari, McLaren, BMW Sauber, Renault, Toyota, Red Bull,
Toro Rosso and season’s leaders Brawn GP – announced their plans to leave F1 and start a racing series of their own.
