Breakaway gets team support

Although no team officially turned its back on Formula 1 and signed up for the new series, a statement issued on behalf of BMW, Mercedes-Benz, Honda, Renault and Toyota claimed a series of agreement was now edging them closer to setting up their own rival series.

A statement issed by the manufacturers said: "The Teams and Manufacturers met today at Cliveden near London and unanimously agreed upon the establishment of a new framework for their participation in Grand Prix motor racing post 2007."

The statement went on to claim that the teams endorsed the 'Governing Principles for Grand Prix Motor Racing', a series of ideals to which the manufacturers have signed up - which include a more equitable distribution of money.

The teams also agreed that marketing company International Sport and Entertainment (iSe) would continue its work on the commercial aspects of the new series, and that a series of working groups would now be set up to help define technical, sporting and governance of the new series.

The manufacturers also upped the ante in their bid to win across the vote of the independent teams by confirming that they will support cheap customer engines from the start of next year if teams sign-up to the GPWC.

The statement said: "The Manufacturers agreed that when the series is established which respects the 'Governing Principles for Grand Prix Motor Racing', then they will guarantee from 2006 the supply of competitive engines at an affordable price to a second team which commits to such series."