The FOTA calls for an immediate compromise

The Formula One Team Association (FOTA) has sent a letter to the FIA calling for a compromise in the 2010 regulations to avoid the withdrawal of manufacturers.

According to information from the news agency Reuters, the teams have proposed a version of the budget cap project with contingencies included. They are also asking to extend the deadline for entering the next championship to July 1st in order to continue negotiations and sign a new Concorde Agreement.

According to this letter: « The time has come when, in the interest of the sport, we must all seek to make compromises and urgently end the debates on the 2010 World Championship. »

We hope that you will consider this letter as an important step from the teams who have clearly expressed their willingness to commit to the sport until the end of the 2012 season.

« We would therefore be more than delighted if these proposals were examined with the utmost attention possible in order to avoid any risk of departure of certain teams. »

It is now time to find a reasonable and quick solution to the outstanding issues.

« We believe that a solution could be possible based on the resources of the FOTA. »

« We propose in this regard the opening of an independent accountants office that will develop an audit methodology for all teams. » In return for accepting this compromise, the current teams would assist the newcomers with the provision of engines or technical elements. »

« This methodology and the annual results will be communicated to the FIA … We do not see why such a system based on verification and compliance objectives would not be accepted by all parties. »