19/01/2005
NEWS STORY
In the wake of today's surprise announcement, F1 supremo Bernie Ecclestone revealed that he hopes to convince the other teams to follow Ferrari's example and sign up to an extension to the Concorde Agreement.
The deal effectively stops the Grand Prix world Championship (GPWC) in its tracks, since Ferrari is a key player. Ecclestone is confident that he can resolve the issues (mainly financial) that brought about the threat of a breakaway series in the first place.
"The parts of the Concorde Agreement they were concerned with will be dealt with and they are going to get more money," he told BBC Sport.
"The people I have spoken to are happy, about four or five of them," he added. "At the moment, when I've spoken to them on the phone, the answer was: 'It's positive.' Having thought about everything and seen whether they can do better or worse, that's how it is."