Teams agree cost-cut package

As part of the package of cost cuts, teams have agreed to a 50 per cent reduction in testing for 2005 (24 days during the season). The teams had originally targetted a 10 days testing per year, but this will likely be proposed for 2006 when the teams hope to introduce a single control tyre.

Ferrari, which traditionally has not supported a cut in testing or the introduction of control tyres, did not attend the meeting because both technical director Ross Brawn and team boss Jean Todt were unavailable for personal reasons.

The nine teams agreed however that they would go ahead with their proposals with or without the support of the world champions.

Ecclestone was delighted with the meeting and said he believes Ferrari would join the nine teams. "I've never been to a meeting that has been so positive," he said. "We are a long way to making it a better world championship. We have not done a good enough job in the last few years.

"It's wrong to say that Ferrari have been excluded I think they will come along. It's positive news for a change."