The anger of formula one teams may have eased, following a meeting between Bernie Ecclestone's office and F1 team finance directors.

The anger of formula one teams may have eased, following a meeting between Bernie Ecclestone's office and F1 team finance directors.

It emerged this week that team bosses, stridently united within the new FOTA alliance, are unhappy about the debts and subsequent huge interest payments of the sport's owners, CVC.

It was reported that their response might be to demand more commercial revenue and block additional pushes for cost cutting.

But Duncan Llowach, a director of F1's holding company Delta3, believes the opening of the books to the team's finance directors might have changed their opinion.

"The numbers they will receive are well in advance of what was anticipated," he told The Guardian.

It is said that a renewed threat of a breakaway series is unlikely, but it remains a risk, given that the existing Concorde Agreement expired last year.

"For two years I've had a Concorde Agreement available for them to sign," F1 chief executive Ecclestone said, "but the problem is they have so many smart-arses in the teams -- doctors, lawyers, masseurs ..."

 

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