F1 crisis action to resume on Tuesday

(GMM) F1's insurgent teams will be back in deep conference early this week, as the battle over a budget-capped future continues.

Following the meeting with Max Mosley and Bernie Ecclestone last Friday in London, the FOTA members have now resolved to sit down in Monaco on Tuesday, ahead of the Principality's famous grand prix.

The topic of the meeting will be alternatives to FIA president Mosley's cap: such as reductions in wind tunnel use and freezes in the low cost of customer engine offers, according to The Guardian newspaper.

It is believed that Mosley is giving the teams until free-day Friday in Monaco – one week before the 2010 team entry deadline – to finalize their proposal.

Alternatively, Mosley suggested that he has left some wriggle-room on the 40m pounds sterling cap, which already does not include engine, driver, motor home or promoting costs.

"We have a little scope to take other things out," said the Briton.

While the teams are meeting in Monaco on Tuesday, a Ferrari spokesman confirmed that the Italian team's injunction application will be taking place at the same time in a French court.

And he said: "I am glad Mr. Ecclestone and Mr. Mosley are quite optimistic that we will be in F1 next year. But I would be more realistic."

However, Sir Frank Williams is also not convinced that the quit threats, issued by Ferrari, Renault, Toyota and Red Bull, are serious.

"I can't see anyone not being prepared to race next year," said the boss of his eponymous Grove based team.