FIA president Mosley says a deal is close to prevent F1 teams from forming a rival series

Mosley says deal to solve F1 crisis is close

SILVERSTONE, England — FIA president Max Mosley said on Sunday that a deal is close to prevent eight Formula One teams from forming a rival series and that legal action would be halted to encourage a resolution.

Motor sport’s governing body had said that legal proceedings would be begin without delay after the Formula One Teams Association decided to split on Friday when talks broke down to resolve a dispute over a voluntary budget cap for next year.

But Mosley told The Associated Press at the British Grand Prix in Silverstone that progress has been made.

“There won’t be any writ. I think we would rather talk than litigate,” Mosley said. “We are very, very close as far as the facts are concerned. It’s just if the teams want to sit down and iron out the last few difficulties.”

Despite the conciliatory tone, Mosley referred to the more hardline FOTA members as “loonies” who are “immoderate in their approach.”

The eight teams are McLaren, Ferrari, Renault, BMW Sauber, Toyota, Brawn GP, Red Bull Racing and Toro Rosso.

Mosley recognizes the need for a swift resolution, echoing McLaren chief Martin Whitmarsh’s declaration on Saturday that any deal must come by the end of July.

“I would agree with that,” Mosley said. “If this goes on for any length of time, it damages the teams. It doesn’t affect the FIA, it damages the teams because it affects their sponsors.”

Bernie Ecclestone, F1’s commercial rights holder, was happy at news of an agreement being close.

“If Max says (a deal) is close, then that’s good,” he said.