Ecclestone says deal with GPMA imminent

Talks have been ongoing between Ecclestone and the five members of the Grand Prix Manufacturers' Association (GPMA) to find a deal that would secure the future of F1, and it appears that a deal may now be imminent.

"I would be surprised if all the issues between us are not settled before the race in Bahrain," Ecclestone said in an interview with The Daily Express, before suggesting that the manufacturers may also agree to a raft of cost-cutting measures.

"What we can agree on the technical side is dependent on how much money they want to save but they will save a huge amount without adversely affecting the technical excellence of F1. It will remain the pinnacle of motorsport.

"But we cannot continue to look as if this sport is a battle of the biggest budget. That way, at current spending, is just not on and will ruin the sport and the companies.

"There is a point, probably long since past, when the cost of trying to win races and the championship outweighs the value of being successful.

"We can all see the benefits of cutting costs while continuing to allow some areas of research and development and I think there is a mood of conciliation now. They will certainly earn a lot more money on the commercial side, double what they got before."

A spokesman for the GPMA, which is made up of BMW, Honda, Mercedes-Benz, Renault and Toyota, said: "Things appear to be going in the right direction."

The news of Ecclestone's confidence about a deal comes amid reports that he has once again offered the manufacturers two non-executive directorships on the board of his Formula One Administration (FOA) company, in a bid to ensure they have some input into the future of the sport.

This was one of the original ideas that was put forward in the Memorandum of Understanding signed between the manufacturers and Ecclestone in December 2003. This deal subsequently collapsed.