Mosley willing to compromise on budget caps for 1 year

FIA President Max Mosley has finally conceded that he is ‘willing to compromise’ over the controversial budget cap row that is rocking Formula 1 – and is optimistic that a solution will be in place by the stated 2010 entry deadline tomorrow (Friday) that will avert an impending crisis.

Following another meeting of the Formula One Teams’ Association (FOTA) on Wednesday – one publicly marked by the temporary expulsion of Williams from the organization, in response to the former multiple world championship-winning Grove-based outfit having earlier this week become the first of the present incumbents to sign up to participation next year – it is understood that a resolution is now all-but in place.

“I am willing to compromise," Mosley told Italian newspaper La Gazzetta dello Sport, “but only if small and new teams can operate with much lower budgets and are not much slower than the others. I am very optimistic about a solution. The big and small teams have very different interests, and we have to protect everyone.

“Will Ferrari enter by Friday? I think so. I am optimistic and confident. Ferrari is very important for Formula 1, but Formula 1 is very important for Ferrari as well."