GPMA said Sunday it would create a $50.7 million ($40 million Euros) fund for independent
F1 teams to help secure engines they could afford for the next four years. The offer was reportedly made to fend off a 2008 freeze on F1 engine development - the year the Concorde Agreement expires. That leaves 2007 open and up for interpretations, which leads to the confusions.
GPMA's statement was then followed by
FIA's reaction to it, which then was followed by a release during the French GP from
Renault and the Renault F1 team in reaction to the GPMA statement.
FIA said, among other things: "It has repeatedly been explained to the GPMA that if engine development is to continue, as desired by some GPMA members, the independent teams must be guaranteed a supply of competitive engines. Has GPMA wished to continue engine development they would have had to find this money, the 40 million euros they offered was wholly inadequate.
"The result of all this is that the rules will stay as published and agreed. As always, all agreements, including the Concorde Agreement, will be adhered to and enforced."
Regarding the GPMA statement, "Renault and the Renault F1 Team wish to clarify that this statement was released without their agreement, and that neither the manufacturer nor the team consider themselves to be party to it."
