F1 Future Secure

Planet F1 reports that the long-standing dispute between Bernie and GPMA (comprising Toyota, Renault, McLaren, BMW and Honda) has finally been resolved at Barcelona today. They have agreed to be a part of Formula One for 2008 and beyond. The existing 'Concorde' agreement expires at the end of 2007.

The five manufacturers had been holding out for a larger share of the financial pie, among other things - and while the terms of the agreement are not yet clear, they have now reached a settlement with the commercial rights owner Ecclestone.

The deal is expected to be completed when Donald McKenzie, the head of CVC - who own Formula One - arrives in Barcelona today for the Spanish GP. With this, all existing 11 teams are sure to be on the grid in 2008, when they will be joined by the new team Prodrive.