F1 carmakers on verge of deal

"I believe we are quite close to a commercial deal, to finalise it with Bernie," Renault's Flavio Briatore told a news conference at the season-opening Bahrain Grand Prix on Friday.

"We are basically agreed. Something will happen maybe this week or next week, but on the commercial part I believe we are very much in agreement."

McLaren's Ron Dennis said he expected all issues to be resolved in "more than a day but less than a month."

The Grand Prix Manufacturers' Association (GPMA) brings together champions Renault, BMW, DaimlerChrysler's Mercedes, Honda and Toyota.

All own or are significant stakeholders in teams.

They have threatened to set up their own championship from 2008, when an existing commercial agreement expires, unless they get a far greater share of the revenues, equal treatment for all and transparency in the way the sport is run.

However, most people in Formula One have increasingly come to see their position as simply a means of applying pressure on Ecclestone.

The carmakers said this week that they had made 'significant progress' in talks with the 75-year-old Briton who has built the sport into a billion dollar business and would have further meetings in Bahrain.

Ecclestone has said that he expects the issues to be resolved before Sunday.

McLaren boss Ron Dennis added however that money was only a part of the picture.

"I think everybody understandably forms the view that everything is about money and of course money is so often talked about in Grand Prix racing," he told a news conference.

"But what is important to understand is that this embraces the future of Grand Prix racing through to at least 2012 and maybe beyond."

He said the carmakers were working on a wide-ranging memorandum of understanding.

"I think the difference in the discussions that have taken place in the last month...is that the push now is more towards what is in the long term interests of Formula One," said Dennis.

"That is where probably the acquisition from the banks of the equity by CVC has been most positively felt because they want stability, they want growth and now we participate in that growth so everybody has a very common interest."

CVC Capital Partners have taken control of Formula One's commercial rights after buying the stakes of two of the three banks that owned 75 percent of holding company SLEC through Speed Investments.

An antitrust review of that takeover is being carried out by the European Commission with a decision expected by March 21.