The meeting of the FIA chief and team chiefs in Monaco saw Mosley put before them his plans for 2008 onwards, following the conclusion of the Concorde Agreement.
And although it is understood there was little discussed about the split in commercial revenues, Mosley clearly believes the acceptance of his proposals signals the end of any power once wielded by the GPWC, a consortium of the major motor manufacturers who threatened to form their own series unless they got a bigger slice of the profits.
Talks between the GPWC and SLEC, the commercial rights holder of the sport, broke down recently and lost the support of the smaller teams, who were left fuming over the ‘next to nothing’ share they would receive under the terms GPWC were negotiating.
Speaking after yesterday’s meeting, Mosley said: “Everything the GPWC set out to get, they have got. Their raison d'etre has disappeared."
The smaller teams were buoyed by the changes Mosley outlined, which would see a dramatic reduction in the costs of running a team.
Key points of what Mosley himself described as ‘revolutionary’ proposals included introducing small engines and using a single tyre manufacturer.
Added Mosley: "It was a very good meeting. Where I had expected very significant dispute and debate, there wasn't any. It was very constructive.
“In a nutshell the proposals for 2008 we simply announced. We went through them all with the teams and discussed them all in some detail.
“As far as doing things sooner than 2008, there was a wide measure of agreement that we need to bring in changes much sooner.
“The engine manufacturers are going to make proposals in addition to those that we have made to reduce the engine costs by 50 percent.”
Team chief Eddie Jordan said he was ‘enormously’ pleased at the outcome of the meeting.
