Briatore confident of new deal

The dispute over Formula One’s future is nearing a resolution after top-level talks at Imola today.

The Grand Prix Manufacturers’ Association of Mercedes, BMW, Renault, Toyota and Honda, have stalled on signing a new commercial deal with Formula One supremo Bernie Ecclestone.

But Renault team principal Flavio Briatore held negotiations with Ecclestone today amid suggestions a deal could even be reached this weekend.

Formula One needs a fresh commercial arrangement after 2007, when the Concorde Agreement expires, and, after all GPMA teams submitted entries to the FIA for 2008 onwards, Briatore is optimistic.

Briatore said: “We signed the agreement with Max Mosley and I am sure we will sign the agreement with Bernie to 2012.”

The GPMA teams have agreed to act together so Ecclestone’s offer of 60% of commercial revenue to the teams will be either accepted or rejected outright. Ferrari, Williams, Red Bull, Scuderia Toro Rosso, Midland and Super Aguri have already agreed to the terms.