Mosley to go as F1 row settled (From Banbury Cake)

Mosley to go as F1 row settled

1:05pm Wednesday 24th June 2009

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The threat of a Formula One breakaway series has been averted after agreement was today reached between motor sport's world governing body, the FIA, and the Formula One Teams' Association.

As a result, FIA president Max Mosley has confirmed he will not now stand for re-election when his fourth term ends in October.

The news follows a breakthrough meeting of the World Motor Sport Council in Paris, and a cost-cutting deal being struck between the FIA and the eight members of FOTA - Ferrari, McLaren, BMW Sauber, Renault, Toyota, Red Bull, Toro Rosso and Brawn GP.

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