12/03/2006
NEWS STORY
Despite media reports that the manufacturers that comprise the Grand Prix Manufacturers' Association (GPMA) would finally conclude a deal with Bernie Ecclestone this weekend, thus ending talk of a breakaway F1 series in 2008. McLaren boss, Ron Dennis, has revealed that last night's much-publicized meeting ended in stalemate, though he remains confident that a satisfactory solution will be found before too long.
"We are moving together," he told reporters at the Bahrain International Circuit this morning. "I think everyone was desirous of getting to an MOU this weekend but it's not that far off.
"Inevitably in a negotiation it goes backwards and forwards a little bit," he continued. "I don't think we are that far apart. There was quite a degree of optimism that we would be able to tweak the MOU and get it done but that didn't happen."
However, another sticking point is that the manufacturers cannot agree a deal until the results of a European Union investigation into the proposed buy out of 75 percent of F1 by CVC Capital Partners. Earlier this month it was revealed that a decision will not be made until March 21.
This, of course, takes the issue perilously close to the 'manufacturers commitment window' recently proposed by Max Mosley, a deadline, which should the manufacturers fail to meet, could result in exclusion form the 2008 World Championship.