Mosley outlines deal offer to teams

The eight members of the Formula One Teams' Association (FOTA) have until Friday to lift the conditions attached to their entries - and efforts are increasing on both sides to try and reach a settlement.

After a day of further letters between motor racing's governing body and FOTA, Mosley has as promised laid out the terms by which he wants the teams to sign up. And although there had been fears of a total breakdown in discussions between the two parties, Mosley has informed FOTA that he is willing to make some movement on the question of governance in the sport.

He has told teams that he is prepared to discuss the FIA's International Court of Appeal, and also remove the controversial Appendix 5 to the 2010 Sporting Regulations. This latter element had angered teams, who feared that it gave the governing body carte blanche to impose whatever rules they wanted.

Mosley also said that he was willing to change some of the technical regulations for 2010. If the teams agree, the moveable wing rules will remain as they were for 2009, 4WD cars will not be allowed, tyre warmers will continue and the engine rules will remain as they are for this year - except customer Cosworth units will be allowed to run unrestricted. Also gearbox rules will remain as they are for 2009, as will testing limitations.

Mosley also made it clear that he would be willing to accept a 100 million Euros cost cap limit for next year, providing that it was reduced to 45 million Euros for 2011. This was the same figure that was outlined in a letter sent to FOTA president Luca di Montezemolo following the team meeting in Monaco.

Outline plans were also detailed for how the budget cap would be policed with 'self-reporting of compliance using a reputable auditor' used. Mosley also confirmed that breaches of the budget cap rules would not result in on-track sanctions, but would instead be 'financial against a pre-agreed formula.'

FOTA now has 48 hours to to decide whether to accept the terms and sign up for F1, or decide to stand firm and risk being left off the grid.