Peace is near in F1

(GMMf1NET) The prospect of peace in formula one took a further step forward late last week, when Bernie Ecclestone met with the remaining members of the carmakers' 'GPMA' faction.

It is suggested in the German press that representatives of Mercedes, Renault, BMW, Honda and Toyota sat down with the F1 supremo, as the likelihood of a 'breakaway' series for 2008 continues to diminish.

Ferrari, Williams, Red Bull's two teams and Midland (MF1) are already signed up to 75-year-old Bernie's new Concorde agreement for the five year period commencing after 2007.

Of the remaining teams, it is suggested that both Japanese carmakers, plus Renault, are ultimately likely to follow suit within time, leaving the hardliners – BMW and Stuttgart-based Mercedes-Benz – with no option.

With much of the money row seemingly settled, the final dispute is apparently about Max Mosley's intended 2008 rules.

''We are seeing some signs of getting closer, some compromise and some good discussions,'' Honda board member Yasuhiro Wada revealed last week.