GPMA: fine-tuning needed for new F1 deal

As autosport.com revealed earlier today, Renault boss Flavio Briatore said that he was ready to commit his team to F1 until the end of 2012 after talks with Ecclestone and F1 owners CVC Capital Partners about a new Concorde Agreement.

As a member of the Grand Prix Manufacturers' Association, his comments indicated that there was a chance a settlement could be reached imminently.

But in a meeting at Imola on Friday evening between the other members of the GPMA to analyse the latest offer, they decided that further talks were necessary before they could commit.

Mercedes-Benz motorsport boss Norbert Haug said he remained optimistic a deal was close, but that further fine tuning of the details of the agreement needed sorting out.

He told autosport.com: "If you look at where we started four years ago, there  have been a lot of talks and we have achieved a lot in that time. But there is still some fine tuning to be done here and there."

Briatore was optimistic the deal would be struck within the next few days, however.

"I am sure it is close," he told Reuters. "The deal has been on the table for the last three or four weeks. It depends when the manufacturers want to sign.

"We need to go ahead...for sponsorship, for anything, we need to give stability - we need to give a signal that we will do the 2008 championship, 2009, 2010, 2011, 2012," added the Italian.

"It makes no sense to lose time. The difference between what is on offer and what the people request is a motorhome," he added gesturing towards some of the imposing team facilities that can cost several million dollars.

Asked whether a deal could be sealed this weekend, Briatore replied: "I hope so, especially for us.

"It is a deal, good or bad. Only the future tells you how good or bad it is. I am optimistic."