Ferrari give GPMA ultimatum on engine deal

Although the Formula One Commission deadline of 4pm to reach a deal on changes to a planned full engine freeze from 2008 passed without agreement, an 11th hour offer was put forward by the Grand Prix Manufacturers' Association (GPMA).

The new offer included the promise of the creation of a 70 million Euro engine fund, to ensure a supply of cheap customer engines for independent teams over the next five years.

The FIA issued a statement swiftly after the GPMA offer was made suggesting that they were likely to reject the proposal, but autosport.com understands that the suggestion, and the conditions attached to it, will be considered overnight.

Should the FIA reach a deal with the GPMA over the matter, then it will need all the sport's current teams to back the plans if they are to come into force.

Todt has made it clear, however, that his patience to find a settlement will only extend until tomorrow - meaning that moves will need to be made very fast if a compromise solution is going to be found.

Without Ferrari's support, the full engine freeze from 2008 will go ahead.

"If we have to postpone the final decision by 24 hours I would be prepared to accept that," said Todt on Sunday night. "Beyond that, for me, there would be the frozen engines from '08 on, with some possibilities earlier, depending on the issues with the Technical Working Group and the FIA."

When asked by autosport.com whether he would not consider any extension in the talks beyond 24 hours, Todt said: "As I said, normally if you make a deal you have to respect it, which sometimes seems a bit strange in Formula One. But let's say I still try to focus on that."

Todt has made it clear that Ferrari were not involved in the GPMA statement that was sent out on Sunday morning, or in the discussions that took place over the weekend to agree on the Engine Fund.

"At Indianapolis a unanimous agreement was taken which we felt was going in the proper direction to make everybody together sign," he explained. "I signed a document, on behalf of Ferrari.

"I think I was the first to sign, what I would call a post-Indy document. It clarified what was discussed over the meeting at Indianapolis, but then which was not written on their agreement, so we made a kind of clarification and I signed and I never heard about the paper any more.

"I know that there were some meetings (this weekend). I felt that there was no need for me to attend the meetings because I signed the paper. I was not involved, Ferrari was not involved in the GPMA discussions to support commercially the private teams."