The manufactures BMW, Honda, Mercedes-Benz, Renault and Toyota met today together with their associated teams in order to discuss their views regarding the future for Grand Prix Motor Racing beyond 2007.

Following a far reaching, broad and open discussion, all participants have unanimously agreed upon a comprehensive set of governing principles which they believe represent an appropriate framework for the sport.

The principal objectives are to establish a framework for Grand Prix Motor Racing which:

Retains Grand Prix Motor Racing´s position at the pinnacle of motorsport

Provides the basis of a long term plan for the prosperity of Grand Prix Motor Racing and all its stakeholders, including teams, sponsors, and circuits

Supports and encourages the participation of independent teams through technical assistance and engine supply

Attracts, excites and provides good value to fans globally

Is open, transparent and fair in commercial, technical and sporting governance

The manufactures agreed to engage all of the teams in dialogue regarding these governing principles and endeavour to ensure that detailed regulations can be prepared which meet the principal objectives identified.

The manufacturers support the approach and look forward to participating in the process recommended by the teams in their letter of January 25, 2005 to the FIA.

Details and supporting objectives can be found here.