The threat of a breakaway Formula One series ended Sunday after BMW, Renault, Honda, McLaren Mercedes and Toyota agreed to stay until 2012.
The five teams make up the Grand Prix Manufacturers Association, which had threatened to leave after the 2007 season when the agreement expires. The accord sets out how revenues are divided among teams, commercial chief Bernie Ecclestone and FIA, the world governing body.
“All GPMA members are now prepared to sign,” McLaren chief Ron Dennis said.
Four non-GPMA teams — Ferrari, Williams, Midland F1 and Red Bull Racing — had already signed on to extend the F1 commercial deal, which involved an increase in revenue for teams.
Now it’s official. The ’supposed’ breakaway series is over. The thought of these teams starting their own series with the ‘inmates running the asylum’ (manufacturers) is laughable.
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