Four-hour meeting on cutting costs

Engine limitations were one of the issues discussed and it is understood that a compromise proposal allowing drivers two engines per weekend (one for Friday and Saturday and one for Sunday) has been tabled, to be introduced from the beginning of 2003.

There will be a further meeting at London's Heathrow airport next week before the Formula 1 Commission decides on proposals to be recommended to the FIA World Council next Wednesday.

The team bosses were tight-lipped on the discussions but McLaren boss Ron Dennis said, somewhat cryptically: "I came out thinking that we had agreed to a whole host of changes... but I'm not sure that the agreement we came out with will fall into place.

"Our corporate position is to embrace everything that saves money, provided that we are careful not to damage the fabric of F1 and that everyone is influenced to the same degree.

"But, competitive individuals with varying degrees of competence can look to gain an advantage through change. I felt that the 'haves' reached a very long distance to help the so-called 'have nots'.

"Personally though, I wonder sometimes at people with private jets, large houses and boats crying poverty. If I found myself uncompetitive, I think I might sell those things in order to get competitive first..."