'It being wholly impractical to involve the Senate in such detailed negotiations, the contract was handed over to FIA lawyers, who worked on it tirelessly over the weekend of 27-28 June and gave comments during a three-hour conference call on Monday, 29 June. Then the 350 pages of 25 June turned out not to be the final FOTA/FOA version and elements of a new version appeared, partly on 2 July, partly on 3 July.

'Again, FIA lawyers worked over the weekend on 4-5 July, as did FIA President Max Mosley and FIA Deputy President (sport) Nick Craw. Further comments were then given in a three-and-a-half hour lawyers' call on Monday 6 July and again in a conference call yesterday, 8 July, following the circulation of further drafts. Further significant progress was made yesterday evening in yet another conference call.

'At present it seems probable that a final draft of the 2009 Concorde Agreement will be agreed and ready for signature in the coming days.'