The FIA has this morning (Monday), issued the following:

Last Thursday, the President of the FIA met a delegation from FOTA consisting of Ross Brawn (Brawn GP), Stefano Domenicali (Ferrari), Christian Horner (Red Bull), John Howett (Toyota) and Simone Perillo (FOTA).

During the meeting FOTA acknowledged that the FIA wanted to encourage the introduction of new teams in the championship to maintain its vitality and economic viability in the long term. Agreement was reached on technical regulations for 2010 which offered assistance for new teams from the currently competing teams in several key areas.

It was also agreed that the objectives of FOTA and the FIA on cost reduction were now very close and that financial experts from both sides should meet at the earliest opportunity to finalise the details.

It was proposed by the FIA that any perceived governance and stability issues could best be eliminated by extending the 1998 Concorde Agreement until 2014 thus avoiding lengthy negotiations for a new agreement. This was well received by those present who undertook to report the suggestion to the other FOTA members.

The FIA believed it had participated in a very constructive meeting with a large measure of agreement. The FIA was therefore astonished to learn that certain FOTA members not present at the meeting have falsely claimed that nothing was agreed and that the meeting had been a waste of time. There is clearly an element in FOTA which is determined to prevent any agreement being reached regardless of the damage this may cause to the sport.

The FIA will publish shortly a detailed and documented account of the facts in its dealings with FOTA.