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Ferrari Clarify GPWC Position

World Champions Ferrari have said today that the other members of the Grand Prix World Championship knew since July of last year the Italian squad were in talks with Bernie Ecclestone over a new Concorde Agreement.

World Champions Ferrari have said today that the other members of the Grand Prix World Championship knew since July of last year the Italian squad were in talks with Bernie Ecclestone over a new Concorde Agreement.

The Italian team were founder members of the GPWC, which is now reduced to just Mercedes, BMW and Renault following the departure of Ford last year. The group was created with the aim of setting up a rival series to Formula One.

But Ferrari, in a surprise move, announced last week they had agreed a new deal with Ecclestone's FOM and the sport's governing body, the FIA, which will see the Maranello squad competing in Formula One at least until 2012.

Ferrari, however, issued a statement today saying the other members of the GPWC have known for a long time they were not "bound exclusively" to the group.

"Back in the end of July 2004, Ferrari had informed in writing the other members of the GPWC that, as from 1st August of that same year, it would not be bound exclusively to the GPWC, while nevertheless remaining part of it," said the statement.

"It intended examining the possibility of an agreement with the FIA and FOM regarding the long term future of the FIA Formula One World Championship.

"As a result of what was established in the agreement announced on the 19th of this month, the new version of the Concorde Agreement will come into effect from 2005 on the revenues owed to the signatories thereof."

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