A news item appeared elsewhere at the weekend claiming, amongst other things, that the Formula One Teams Association (FOTA) was to send only its chairman Luca di Montezemolo and vice-chairman John Howett to tomorrow's meeting in Geneva with Max Mosley.

The article, which was subsequently removed, heavily edited and then re-published, claimed that this was the result of fears that the FIA President was intent on exploiting differences of opinion within the factions that comprise FOTA, namely the threat of a standard engine, the return of customer cars and engine equalization.

While some are thought to be in favour of some of these measures, others are known not to be. The article, referring to "senior sources" claimed it was this difference of opinion that Mosley intended exploiting.

As a result, the FIA has this morning (Monday), issued the following:

The FIA has noted media reports in advance of the meeting with the Formula One Teams Association (FOTA) in Geneva tomorrow. In the interests of complete transparency the FIA has decided to release the agenda, and the explanatory note, it has set for this meeting.

Agenda

Costs

1. The need to reduce costs
2. Budgetary targets

Power train

1. Plans for 2013
2. An interim engine for 2010 – 2012 inclusive
3. Interim measures for 2009
4. Performance differentiators

Chassis

1. Common parts
2. Other measures to reduce costs
3. Performance differentiators

Race Procedures

1. Measures to reduce the cost of going racing
2. Facilities available to teams
3. Pit lane layout

Explanatory Note

Costs

The FIA believes that Formula One costs are unsustainable. Even before current global financial problems, teams were spending far more than their incomes, insofar as these consist of sponsorship plus FOM money. As a result, the independent teams are now dependent on the goodwill of rich individuals, while the manufacturers' teams depend on massive hand-outs from their parent companies.

There is now a real danger than in some cases these subsidies will cease. This could result in a reduction in the number of competitors, adding to the two team vacancies we already have and reducing the grid to an unacceptable level.

The FIA's view is that Formula One can only be healthy if a team can race competitively for a budget at or very close to what it gets from FOM.

We should like to hear the teams' views on this together with comments on the FIA's proposals (set out below) and other suggestions for the measures which will be necessary if major reductions in cost are to be achieved.

Power train

2013

The FIA would like to see a modern high technology power train in 2013. We envisage a down-sized DI engine with exhaust energy and heat recovery, coupled to an electrically actuated gearbox.

However, we are completely open to new ideas. The only preconditions are (i) that the costs of development, maintenance and unit production for the power train must be an order of magnitude lower than is currently the case and (ii) power trains must be available to independent teams at minimal cost.

2010- 2012 inclusive

At present we can offer three options.

Option 1

A homologated engine produced by a single supplier after an invitation to tender, with the current suppliers free to build an identical engine themselves (but not the gearbox), subject to rigorous controls.