The boss of the Monticello Motor Club in upstate New York claims his circuit is in the running to host a United States Grand Prix following positive talks with Formula One supremo Bernie Ecclestone.

The FIA and the Formula One Teams' Association have just three days to resolve their differences otherwise a breakaway series will move a step closer to fruition.

The FIA have agreed to award the Formula One world drivers’ championship to the driver with the most race wins from this season onwards.

Formula One supremo Bernie Ecclestone has admitted for the first time that a breakaway championship, removed from the influence of the FIA and its under-fire president Max Mosley, could become a reality.

India is set to become the latest addition to the grand prix calendar after the Indian Olympic Association announced that a preliminary deal to stage a race in 2009 has been agreed with Formula One supremo Bernie Ecclestone.

Formula One organisers today announced a minute’s silence will be held before Sunday’s British Grand Prix as a mark of respect to those who died and were injured in the terrorist attacks in London.

Motor sport bosses have ended months of speculation by confirming a 100-year deal for the commercial rights to Formula One.