Faure: GPWC dispute to be resolved

Renault F1 chairman Patrick Faure believes that the threat of a breakaway grand prix championship could be averted within the next few weeks according to this week's AUTOSPORT magazine

Faure: GPWC dispute to be resolved

Faure, one of the leading figures behind the Grand Prix World Championship (GPWC) which plans an alternative GP championship for 2008, reckons that should talks between GPWC representative Goldman Sachs and creditor banks that own a 58 percent stake in F1 holding company SLEC be successful, the future of Formula 1 would be financially secure.

"We're going to discuss with the banks a compromise solution between us," said Faure. "This would be good for us and show that the future of F1 is going in the right direction."

Faure, one of the leading figures in the GPWC which comprises current F1 manufacturers Renault, BMW, Ford, Mercedes-Benz and Ferrari, also said that the breakaway group would hold talks with teams next month to discuss the redistribution of money earned in the sport.

"I hope we have a compromise," said Faure. "We want to work with the people who want to secure the future of F1 but who don't want to keep the money for themselves. We do not want to keep the money for GPWC - we want the money to go to the teams on an equal, transparent basis. Whatever happens this is how F1 needs to be."

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