GPMA on the verge of signing up for F1

Although the five members of the Grand Prix Manufacturers' Association (GPMA) have so far been unable to reach commercial terms with supremo Bernie Ecclestone, sources have revealed that meetings have taken place at this weekend's San Marino Grand Prix that could result in an imminent agreement.

Renault boss Flavio Briatore has been acting on behalf of the manufacturers in talks with Ecclestone and the sport's commercial owners CVC Capital Partners, which has been represented by Donald MacKenzie.

This has resulted in the latest offer being put on the table for the manufacturers to consider. This was due to be considered in a GPMA meeting that was taking place at Imola on Friday evening.

The five manufacturers have agreed to act in unison with regards to the sport's future, which means that they will either all sign the deal that has been offered to them or they will all reject it.

However, Renault boss Flavio Briatore told autosport.com that he was happy with what was now being offered to the teams and was ready to sign the deal.

"We are going to sign with Bernie, yes," he said. "But I haven't signed yet...I don't have a pen. We want to sign it as soon as possible."

Briatore would be unable to sign the deal if the other members of the GPMA - BMW, Mercedes-Benz, Honda and Toyota - decided that the terms were not acceptable.

Ecclestone himself said he was not getting overtly optimistic about a deal that would bring a final end to the threat of a breakaway championship.

When asked by autosport.com about whether he was confident a deal would happen imminently, he said: "I am confident when something happens. When people say they have paid a bill, I only believe it when the money is in the bank. Up until then it is conversation, so we will see.

"They are having a meeting again, but they have meetings all the time. I have said to them, 'look at all the money you have spent on mineral water in these meetings, that is more than you want anyway.'"

Ecclestone's original offer to the teams was for a share of 60 percent of the sport's commercial revenue.

"What we've offered they can take it or leave it. That is not being rude. What has been offered is all that is being offered. I think they are happy to be honest."

Speaking about whether he believed a deal could be done this week, he said: "I've no idea. I don't know. With these people it should have been two years ago."