Mixed feelings about this one really because I was getting excited about the prospect of the ‘New’ Formula 1.

FIA President Max Mosley said – “There will be no split. We have agreed to a reduction of costs. There will be one F1 championship but the objective is to get back to the spending levels of the early 90s within two years.”

It is rumoured however that Mosley has agreed not to stand for re-election as president.

I hope some of the classic circuits from he breakaway list find their way back into F1 now that they realise the frustration of teams and fans alike.

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