GPWC still on track, says Ron

"Gerhard's a good friend but he's speaking a load of rubbish," Dennis said. "He's not involved and he has no idea of the commercial parameters involved.

"There was a meeting of Bambino Holdings (representing the Ecclestone-held 25 percent of F1), Goldman Sachs (on behalf of the banks that hold the remaining 75 percent that was purchased by Kirch Groupe) and the GPWC last Monday and based on my knowledge of that, I can say that we are very close to a good commercial balance."

The manufacturers are trying to negotiate a more equitable distribution of funds and a say in F1's future direction when the current Concorde Agreement governing the sport expires in 2007.

"It is inevitable that with something as complex as this and with such a commercial impact on those involved, it is going to take a bit of time," Dennis added. "I'm honestly surprised at Gerhard's comments because, normally, when he doesn't understand something he doesn't talk about it..."

Haug said: "If there are no changes and without the involvement of the manufacturers, then we are going to go nowhere."