Howett warning over F1 peace

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Howett, who is also a vice-president of the Formula One Teams Association, on Wednesday outlined the areas of dispute still to be resolved - including budgetary restrictions and FOTA's desire for next year's regulations to be based on those used this season.

"There is no budget cap contained within the FOTA proposals for 2010 regulations," he said. "FOTA has proposed a sensible method of controlling expenditure which can be managed in a very simple, practical manner whilst avoiding external and potentially costly auditing mechanisms."

FOTA appeared to back down from their row with the FIA last week, when they submitted a conditional block entry for next year's championship. That seemingly averted the threat of the teams, led by Ferrari, pulling out of the sport over plans to implement a voluntary budget cap for 2010.

There is also the issue of the Concorde Agreement - a binding regulatory and commercial document which has governed the sport for the previous 25 years - which FOTA want to see extended to 2012 by June 12.

Should that deadline be missed, it appears the prospects for the 2010 season could be called into question once again.

"We (Toyota) have consistently said we want to continue to participate in Formula One and if our conditional entry is accepted, we will commit to the sport until at least the end of the 2012 season," Howett said. "If and when that happens, the unfounded rumours surrounding our future should stop."

Howett and FOTA do not believe budgetary restrictions - which, under the FIA's proposal, would be voluntary but force technical restrictions on teams which fail to meet them - are necessary due to cost-cutting measures already taking place.

He also welcomes the proposed entry of three new teams for 2010, but has warned that the road ahead is likely to be far from smooth.

"As everyone involved in Formula One knows, it has been a long and, at times, challenging process which is not yet concluded," Howett said. "If the conditions attached to our entry are accepted, I believe Formula One will be the winner."