Ecclestone makes team offer

FIA president Max Mosley has predicted that Formula 1 supremo Bernie Ecclestone will win over the support of the sport's current outfits in the debate over an improved financial package, after revealing details of new money terms on offer for the teams

Ecclestone makes team offer

Ecclestone is understood to have met with nine team bosses on Wednesday to discuss the terms of a fresh financial offer to commit to F1, in the wake of a unilateral deal being done with Ferrari to commit the Italian manufacturer to the sport until the end of 2012.

It is believed that the offer of the new five-year package includes Ecclestone giving the teams 50 percent of the sport's commercial rights income from 2008, plus an offer of extra finances if they commit now.

It is believed that the bonus package will be the difference of the current financial package, which equates to approximately 25 percent of the commercial income, to the 50 percent offer, for the period from 2004 until 2007. This will then be paid in equal installments from the start of 2008.

Mosley, who was speaking in London on Thursday, believed that the offer was generous and that it would be hard for the manufacturers hoping to win over teams for their GPWC breakaway series to match such financial terms.

He believed the costs would be the major handicap for the manufacturers, but also claimed Ecclestone had a huge head start in terms of having contracts in place with several tracks for the long-term future as well as actually owning the F1 brand.

"If you [the manufacturers] are thinking of paying that sort of money without having contracts in place with circuits then you are talking about one billion dollars," said Mosley.

"The difference between Bernie and the GPWC is that Bernie has a contract with promoters well into the new Concorde Agreement [which will run from 2008]. He also has the F1 brand. So Bernie has a huge start in this game."

The teams have previously been reluctant to commit to F1, because the new terms do not begin until 2008, but Ecclestone's fresh offer may force some to sign-up because of the improved financial terms.

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