Max Mosley, the head of the FIA (Formula 1’s governing body) has agreed to scrap the Two-Tier system he had proposed for the series starting next year.
The system was opposed by almost every team in the Formula One Team’s Association (FOTA), including Ferrari, which issued a press release last week announcing its opposition and its plan to abstain from the series if the rules remained.
The new rules would see two groups of teams competing, with half running with restricted budgets with less strict rules (including the ability to use adjustable aerodynamics) and the other half running with no budget cap but under a tight set of rules.
So… problem solved, right?
Mosley is still holding firm to the £40 million ($60 million) cap for teams and FOTA has yet to agree to the terms. Currently the team’s association members are discussing alternatives to a cap but Mosley doubts it will amount to anything.
As Ferrari has been most adamant about its opposition to a two-tiered system and to a cap (and because they are easily the largest name in F1) Mosley specifically addressed the possibility of them not competing in the 2010 season by saying that while it would be sad, Formula 1 would go on without them.
He even went to far as to threaten teams that are currently on the fence about 2010, saying that an influx of new teams might leave no room for lollygagging veterans who don’t sign on by May 29th.
“Well, I think what would happen is that the team that was left outside when the music stopped, and there was no seat, they’d probably have to buy one of the small teams or something. They should think about that before they don’t put an entry in,” Mosley told the BBC.