16 February: Cliveden (GBR). Following a
meeting in Cliveden between the five major manufacturers in Formula One and nine teams the following understanding was reached:
Teams and Manufacturers met today at Cliveden near London and unanimously agreed upon the establishment of a new framework for their
participation in Grand Prix motor racing post 2007.
With respect to technical rules and regulations, all parties confirm and
fully endorse the “Governing Principles for Grand Prix Motor Racing” previously developed by the major Manufacturers.
respect to the commercial aspects of the sport, all parties further confirm their support that the principles of premier Grand Prix
motor racing post 2007 should be as described by International Sport and Entertainment AG (“iSe”) today, which complies with the
Governing Principles. iSe will continue its work in this respect.
The Manufacturers agreed that when the series is
established which respects the “Governing Principles for Grand Prix Motor Racing”, then they will guarantee from 2006 the supply
of competitive engines at an affordable price to a second team which commits to such series.
All parties agree to continue
to co-operate together and to establish technical, sporting and governance working groups with appropriate specialists, operating
within a defined timetable and brief to document in full a new structure and regulations for the sport so as to put the Teams in a
position to participate in a timely and orderly manner in 2008.
All parties further agree that all Teams are invited to join
on equal terms.
The Sauber, Red Bull and Jordan teams warmly welcome the above and agree to respond formally with their
positions on the document, following further internal consultation.