Theissen 'optimistic' of reaching F1 agreement

BMW-Sauber boss Mario Theissen has predicted an imminent end to the dispute that threatens Formula One’s future.

BMW are one of five car manufacturers refusing to sign up to an extension of the Concorde Agreement, the secret document that governs Formula One but expires in 2007.

The five – BMW, Mercedes, Renault, Toyota and Honda – are pressing ahead with plans to launch a rival championship in 2008 after failing to resolve concerns over how the sport is run and how its income is distributed.

BMW’s former colleagues at Williams recently signed the new Concorde Agreement, agreeing to continue under the stewardship of Bernie Ecclestone, and Theissen expects others to follow suit soon.

“I am quite optimistic,” he said at the launch of BMW-Sauber’s first car in Valencia today.

“Obviously we are in a transition stage in Formula One. I am quite confident this will be settled and we will reach agreement to continue in Formula One.”

Ferrari, Red Bull, Midland, Scuderia Toro Rosso and Williams have already agreed to continue with Ecclestone and Formula One beyond 2007.