The 13 teams due to compete in F1 in 2010 met at the Formula One Teams' Association (FOTA) headquarters in Geneva on Thursday to further discuss the top flight's package of cost-cutting measures for next season and beyond – but whilst the reunion is understood to have been a positive one, it is unclear whether any firm resolution was reached.
In the absence of FOTA President Luca di Montezemolo – engaged on business elsewhere – the meeting was chaired by Toyota Motorsport President and FOTA Vice-President John Howett, with the aim being to come to a unanimous position on spending reductions and sign a cost-regulation document as a precursor to a new Concorde Agreement.
As such, levels of expenditure would be reduced to those of the early 1990s within two years, and FIA President Max Mosley's highly-contentious budget cap – still part of the 2010 regulations as they stand – would finally bite the dust for good.
Moreover, the signing of the cost-regulation document would quell the breakaway threat of the eight FOTA teams – Ferrari, McLaren-Mercedes, BMW-Sauber, Renault, Toyota, Red Bull Racing, Scuderia Toro Rosso and current world championship leaders Brawn GP – but according to German website motorsport-total.com
, whilst the meeting went well, there is still no indication as to whether or not the crucial document has been signed.