F1 closing on resolution

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After a series of discussions on Friday in the paddock, on board Flavio Briatore's yacht moored in Monte-Carlo harbour and at the Automobile Club de Monaco, the teams and FIA president Max Mosley appear to be closing in on a resolution.

After a discussion with Mosley, Ferrari chairman Luca di Montezemolo said: "It was a long and constructive meeting. FOTA will have another meeting (today) and then there will be another meeting with Mosley."

That is primarily due to the "common ground" discovered by the Formula One Teams' Association during a two-and-a-half-hour debate on Renault chief Briatore's majestic Force Blue.

It allowed them to present a united front to Mosley in the meeting that immediately followed on his 'home turf' of the ACM that sits on the start/finish straight of the Monte-Carlo circuit.

Although there was no outright conclusion, FOTA are to hold further talks today prior to again speaking with Mosley when it is hoped an end to the saga will be reached.

The indication is that, while the teams are not averse to the introduction of a budget cap, the £40million figure demanded by Mosley from next season is too little, too soon.

What might be unveiled is a 'glide-path' cap that will see the teams arrive at Mosley's intended target by 2012.

Motezemolo said: "What we want is that Formula One stays as Formula One and that it doesn't become something different and go towards constant changes which confuse the public and all the others.

"What we want is stability and that we work over the next two years to arrive at a way of further reducing costs."