Faure: GPWC solution is close
Renault F1 Team chairman Patrick Faure has predicted an end to the dispute between the manufacturers and Formula 1 supremo Bernie Ecclestone over future distribution of F1's revenue to come within the next couple of months
Five leading F1 manufacturers, Ferrari, DaimlerChrylser, Ford, Renault and BMW, which formed the Grand Prix World Championship last year, are threatening to create a breakaway series unless the teams are given a greater percentage of the revenue generated through F1.
"This is a complicated issue: we are currently in a phase of negotiation over the sport's future," said Faure. "The GPWC is in discussion with the banks who own 75% of Formula 1, and with Bernie Ecclestone's trust, which still possesses 25%.
"Our demands are that, in the future, a significantly greater portion of the revenues generated by F1 should be distributed to the teams: they are the people who create the show, and they need to receive more help.
"Our other request is that F1 should be managed like a normal company, with greater transparency. We are in the final phase of discussions on this matter, and I think we should find a solution towards the end of October."
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