Ecclestone expects new F1 deal soon

Ecclestone told The Times newspaper on Friday that he and Mosley had settled their differences following months of clashes which included the 78-year-old saying the FIA president should resign from his post.

"The bottom line is simple - we have moved to patch up our differences," said Ecclestone.

The F1 boss said now that things are fine between him and Mosley, a new commercial deal is likely to be concluded soon.

"We will get the Concorde Agreement signed, which we have been cracking away on for a long time," Ecclestone was quoted as saying by Reuters.

"I don't need it, but the teams need it, so we will get that done. It's all in place."

Ecclestone said the FIA should allow the teams to write the new technical regulations to help reduce the costs.

"I've been battling with him now for a few years," Ecclestone said of Mosley. "Let the teams write the technical regulations. They know what they can afford to spend and what they want and don't want and what they think is good.

"They know what's good for the sport because they are part of it, they are spending the money, so they should write the regulations.

"We want the costs reduced in order that we can have other teams come in, so they've an opportunity to do it, and if they don't do it then the FIA will handle the regulations. From my point of view, it's good."