As Pitpass has previously reported, the teams and manufacturers involved in coming up with an alternative vision for Formula One post-2007, are not looking to form a breakaway series, but merely want to improve the current version, which (hopefully) means better entertainment for the fans, more stability, greater transparency and a fairer share of the revenue for those that provide the show.

Today's statement put little more meat on the bones, but did at least prove that the nine teams and five manufacturers are still working together on their vision.

The teams and manufacturers have sent the FIA a summary of the joint proposals for the sporting, technical and legal framework earlier today and await the response.

At present, the GPMA, which comprises the five Manufacturers, is giving little away, but Pitpass understands that a meeting will be held in the very near future, in order that GPMA and the teams may go into the forthcoming summer break knowing that progress has been made.

What is significant is that despite signing up with Bernie Ecclestone for the new Concorde Agreement, which will run from 2008 to 2012, both Red Bull and Jordan continue to be involved in the proposals along with the other seven teams and the GPMA.

A spokesman was keen to reiterate to Pitpass that the aim of both the teams and the GPMA is to ensure the future of Grand Prix racing. Therefore it is hoped that a meeting might be arranged in the coming days whereby the parties involved can establish some "common ground" and also establish areas of "possible conflict".

Although it is almost impossible to get anyone from the GPMA to go 'on record', Pitpass has been told it is felt that many of the proposals recently put forward by FIA President, Max Mosley, would work.

However, there is a fear within the GPMA of Formula One being 'dumbed down', with one source telling Pitpass: "You cannot stop progress". The same source said that it is felt that F1 would be better "without traction control" and that the FIA's proposal to reduce aerodynamic downforce to 10% of the current level, is "going too far".

The GPMA and the teams are clearly concerned at the power the FIA wields, in some circumstances it appears that the governing body acts as investigator, judge, jury and executioner. This would come under the GPMA and the teams' call for greater transparency.

Having spent so much time and effort coming up with its proposals, its clear that the GPMA and the teams now want to get down to some serious talking... as soon as possible.