A deal has finally been reached between the FIA and FOTA (Formula One Teams Association), which will ensure there will be one unified Formula 1 Championship in 2010. FOTA, comprised of eight Formula 1 teams, banded together in response to the FIA’s proposal to place a budget cap of $65 million per team. After much bitter debate, FOTA announced that they would break free of Formula 1 and the FIA to form their own racing championship. After being served this ultimatum, Formula 1 Supreme Leader Bernie Ecclestone was forced to negotiate in order to save his empire.
On Wednesday it was announced that current FIA President Max Mosley has agreed not to run for re-election. This may have been mandated by either Ecclestone or FOTA as the tone of recent statements from Mosley suggested negotiation was not an option.
Source: Jalopnik
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