PARIS - Formula One's world governing body the International Automobile Federation and the F1 Teams Association, agreed yesterday that there will be no parallel championship next season after talks in Paris to ward off a breakaway.
The accord followed a meeting of 120 members of the FIA and came in the wake of weeks of bitter fighting between the two bodies centred on proposed tough spending limits from next season.
Ahead of the meeting, FIA president Max Mosley said he would not step down as part of the price of any potential agreement and might seek re-election as head of world motor sport.
The meeting was an opportunity for member clubs to hear from F1 teams about their plan to leave the FIA and set up a rival series, which resulted in the FIA preparing a legal claim against the teams association. - Sapa-AFP