FIA, Briatore reach settlement

Both Briatore and Symonds had been banned from the sport for their involvement in the 2008 race-fixing scandal in the Singapore Grand Prix.

Their ban, however, had been overturned by a French court because of irregularities in the process.

The FIA said it was considering appealing the decision, but that has been ruled out after reaching an agreement with the former Renault men.

The agreement means neither Briatore or Symonds will be allowed to work in Formula 1 until the start of 2013 and in any other competitions registered on the FIA calendars until the end of the 2011 season.

In a statement released on Monday, the FIA said both Briatore and Symonds had expressed regret and apologised for their actions.

"In return, they have asked the FIA to abandon the ongoing appeal procedure, but without the FIA recognising the validity of the criticisms levelled against the WMSC's decision of 21 September 2009, as well as to waive the right to bring any new proceedings against them on the subject of this affair," the FIA said.

"Considering that the judgment of 5 January 2010 concerned only the form and not the substance of the WMSC's decision of 21 September 2009, and that the undertakings and renunciation of all claims expressed by Mr Flavio Briatore and Mr Pat Symonds are in line with what the WMSC is seeking, the FIA President has considered that it is in the best interests of the FIA not to allow the perpetuation of these legal disputes, which have received a great deal of media coverage and which, regardless of the outcome, are very prejudicial to the image of the FIA and of motor sport, and thus to accept this settlement solution, thereby putting an end to this affair."

The ruling body also said it was working on a structural reform to review its statutes to "prevent other misunderstandings," refering to the French court verdict.