Teams cut bigger slice of F1 cake

TEAMS will be given a greater slice of the Formula One cake as part of a deal agreed yesterday that guarantees the future of the sport.

The teams will also have a greater say in the way the sport is run, although the agreement guarantees that Bernie Ecclestone will continue at the helm.

The GPWC (Grand Prix World Championship) organisation, made up of the five car manufacturers threatening to set-up a rival series from 2008, have reached agreement with Ecclestone and the banks which have a 75% shareholding in SLEC, the Formula One holding company.