The long, at times bitter, struggle between the FIA and the Grand Prix Manufacturers' Association (GPMA) is at an end, according to FIA President Max Mosley and GPMA Chairman Burkhard Goeschel.

The five-year-long battle almost saw the manufacturers head off to begin their own championship series, with the manufacturers, and teams, not only wanting a greater share of the revenue generated by F1, but also more transparency and a greater say in the running of the sport.

Over the years, manufacturers came and went, as did the teams, and though Bernie Ecclestone gave way, granting a greater share of the sports revenues, the FIA, with Max at the helm, remained rigid.

Speaking in Munich - a fact that older readers will note with more than a hint of irony - Mosley and Goeschel (right) declared that there is peace in our time, and that agreement has been reached "on all issues".

A new Concorde Agreement is to be drawn up, and the agreement, according to the Financial Times, will govern the sport for "at least five years".

Mosley and Goeschel described the new deal as; "a major breakthrough, unquestionably a fundamental change in the way we go about managing the rules. We defined the objectives of road relevance, lower costs and social relevance and then we defined the rules".

One of the final sticking points appeared to be engines, with a number of manufacturers unhappy at the new rules introduced by Mosley, aimed at cutting costs and improving the show. The manufacturers, believe that the lack of (engine) development over the next few years is contrary to what Formula One is about, and why they entered. All now seems to have been resolved.

Interestingly, the Financial Times claims that in future, discussions regarding rules will take place at "main board level", with the manufacturers, thereby by-passing team bosses such as Ron Dennis (McLaren) and Frank Williams (WilliamsF1).

However, speaking to Pitpass this morning (Wednesday), an FIA spokesman said that the independent team will not be overlooked when it comes to making decisions regarding the sport's future. "The FIA's role has always been to protect the independent teams and we will continue to do that," he said.

Now, the manufacturers will cut back on the development of hybrid race engines that have no significance in the 'real world' and begin focussing on Mosley's proposed 'green formula'.

"The tide of world opinion has just turned regarding global warming," said Mosley. "With the changes we have made we have caught the tide; if we'd missed it F1 could have become irrelevant."

Pitpass fully is aware that as part of its plans for its own series, the GPMA had carried out special research into the needs of fans, those watching from the comfort of their own homes, and those attending races. This was not one of the topics mentioned by Mosley and Goeschel in Munich.

Then again, having not heard a peep from the GPMA since July, is anyone really surprised by today's news that both sides have "reached agreement".