'We also suggested that these lies were invented in order to blackmail the Defendant into allowing Mr. Piquet Jnr to drive for the team for the remainder of the 2009 season, and [that] he and his father were therefore guilty of a serious criminal offence.
'The team fully accepts – as it did before the World Motor Sport Council of the FIA and as found by the WMSC in its decision of 21 September, 2009 – that the allegations made by Nelson Piquet Jnr were not false. It also accepts that Mr. Piquet Jnr and his father did not invent these allegations in order to blackmail the team.
'As a result, these serious allegations contained in the press release were wholly untrue and unfounded, and we withdraw them unequivocally. We would like to apologise unreservedly to Mr. Piquet Jnr and his father for the distress and embarrassment caused as a result. As a mark of the sincerity of our apology and regret, we have agreed to pay them a substantial amount of damages for libel as well as their costs, and have undertaken not to repeat these allegations at any time in the future.'