SportBusiness.com

GPMA PLOT ROUTE AHEAD FOR F1

The rebel Formula One teams refusing to sign up to an extension of the Concorde Agreement have unveiled their plans for the future – and the setting up of a new organisation to be known as the Grand Prix Manufacturers’ Association (GPMA).

But despite threats of a breakaway, there were hopes last night a peace deal could be agreed after the GPMA agreed to meet with FIA chiefs.

All of the teams except Ferrari, plus five major car manufacturers have signed up to the GPMA which met over the weekend.
Said a statement: “Following a meeting on Saturday in Hockenheim between nine teams and five car manufacturers currently participating in Formula 1, a summary of joint proposals for the sporting, technical and legal framework of Formula One as of 2008 was sent to the FIA to form the basis for constructive discussion.
“Considering the fact that their alliance represents 90 percent of the current grid, and views from key stakeholders such as circuits, broadcasters, sponsors and fans are included, the teams and manufacturers are confident that the FIA will consider their proposals carefully.
“The teams and manufacturers look forward to entering into a constructive dialogue with the FIA shortly, and have therefore requested that representatives from their group will meet with the FIA president shortly.”
The statement also gave a glimpse at the new plans the GPMA had for the sport: “Where possible, costs should be significantly reduced, providing that the sporting spectacle and competition is not compromised. The vision is for a fair and transparent sport with well-funded and highly competitive teams on every row of the grid, with the best drivers competing on the most exciting race tracks around the world.
"Formula One has to be at the forefront of technology and continue to showcase technical innovations in line with those in the auto industry. At the same time the introduction of potentially expensive innovations should not jeopardise the commercial and sporting viability of independent teams. Cost saving is a fundamental objective for the teams and manufacturers, as it is important that new technologies can be introduced at the lowest possible price."