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MOSLEY GIVES REBELS ULTIMATUM

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FIA chief Max Mosley has called on rebel Formula One teams to commit to the sport next month.

At a meeting on March 22, Mosley will propose teams sign up for 2008 within 10 days or risk losing their place.

Renault, Honda, Toyota, BMW-Sauber and McLaren-Mercedes have threatened to set up a rival series after 2007.

They want a bigger share of revenues, more say in F1's future and are upset at plans to limit technology from 2008.

Mosley, president of the sport's governing body the FIA, wants to give independent teams without support from car manufacturers more of a chance by limiting the budget needed to be competitive to around £57million a year.

Ferrari's budget, the biggest in F1, is reputed to be as much as £287million, with Toyota not far behind.