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Teams and manufacturers remain committed to improving the sport for spectators and other key stakeholders
Long-term best interests of the sport come before a short-term compromise iSe to advance negotiations with key parties

Today, a meeting between five major car manufacturers (BMW, DaimlerChrysler, Honda, Renault, Toyota) and seven teams (BAR, McLaren, Minardi, Renault, Sauber, Toyota, Williams) who currently participate in Formula One took place close to Munich.

The five manufacturers and their teams entered into a binding agreement to race together only in a series which satisfies the fundamental principles of a clear and equitable World Championship. All teams not party to this agreement are encouraged to participate in a constructive process to form the premier motor sport series.

Whilst the group remains open and willing to discuss with the current commercial rights holder and the FIA on the future of Grand Prix motor racing beyond 2007, the current uncertainty leaves them with no option other than to progress preparatory work for the New Series.

Although the team principals and manufacturers agreed that some progress was made in the recent meetings, they considered it was not sufficient to delay the preparations for the New Series.

As a result, International Sports & Entertainment AG (iSe), the company that was appointed October 2004 as an operating partner for the alliance of teams and manufacturers, will advance strategic and commercial negotiations with key parties

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2008 Formula One Regulations Update (09/12/2005)
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Five manufacturers moving forward with plans for new series (27/09/2005)
FIA aims to significantly reduce costs in Formula 1 from 2008 (13/09/2005)
FIA's response to Michelin (11/09/2005)
Michelin could pull out of F1 if the FIA doesn't change it's single tyre supplier policy from 2008 (11/09/2005)
Michelin observations regarding the FIA proposals leading to a single tyre supplier in F1 from 2008 (03/09/2005)
Nine teams and five manufacturers finalise joint proposals for future of Formula One (25/07/2005)
Jordan signs up to new Concorde Agreement (20/072005)
Red Bull Racing agree with FOA to extend the current Concorde Agreement (18/07/2005)
Proposed changes to the rules for 2008 approved by the WMSC (04/07/2005)
Proposed changes to the rules for the 2008 FIA Formula One World Championship (16/06/2005)
Schedule for the 2008 Formula One Regulations (15/04/2005)
Nine Teams & Five Manufacturers Progress Grand Prix Racing's Future (07/04/2005)
The current situation in Formula One. Q & A with FIA President Max Mosley (03/03/2005)
The five manufacturers reach an understanding with the nine Formula 1 teams (16/02/2005)
Meeting of Formula One Team Principals and the FIA to discuss 2008 regulations (02/02/2005)
The Manufacturers announce their vision for Grand Prix Racing beyond 2007 (26/01/2005)
The FIA, Formula One Management and Ferrari extend the Concorde Agreement until 2012

Formula 1 Regulations page
Summary & Links to all the important FIA announcements

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