I couldn’t have been wrong yesterday could I? So Max Mosley is not standing for re-election, the breakaway will not go ahead, there will be substantial cost reductions for independent teams.

Will Jean Todt stand for the presidency? I thought he would replace Bernie Ecclestone as you will see here.

So what was it that saved the sport?

The crucial points are that the rules for next year will be the same as 2009, costs will be brought right down, but there will be no budget cap and the teams and manufacturers have committed to the sport until at least 2012.  Afterall Max Mosley didn’t have much of an entry list to give the FIA did he?

Same Rules next year – To please FOTA

There will be no refuelling and KERS is banned.  However, before we all start getting carried away with the failure of the KERs exercise – the new F1 engine post 2013 is likely to be based around a KERS type regeneration system and so everything learned will be for something.  Obviously rules stability ultimately culminates in cost reductions anyway.

Max Mosley to stand down – To please FOTA

Max Mosley will not seek re-election in October when his current term expires and the FIA Senate will even deal with all F1 issues going forward.  As Luca Di Montezemelo said no more dictatorship!  The Italian press have gone wild making Luca to be St George slaying the dragon.

Teams committed to 2012 – To please Bernie and the FIA

The teams have committed to 2012 presumably on the same commercial terms, even though they have separated their dealings with FOM from their dealings with the FIA.  From that time onwards I can only imagine that more money will be on the table for the teams in terms of the TV media money.  Teams will also commit to reducing budgets and costs including technical assistance to newcomers so it looks like the Cosworth engine deals are not going to happen which is great news for the manufacturers as the manufacturers are committed to supplying engines at €5 million and gearboxes at €1.5 million.. Toyota and Ferrari may step into the breach to supply the new teams like Campos and USF1.  With the breakaway threat being serious, a united and resolute FOTA it’s no surprise this threat got taken seriously.  Sorry Ron Dennis.

FIA Authority respected – to please the FIA

Max did achieve something though (in addition to lower costs and no breakaway) – got FOTA to respect the FIA’s authority to rule and govern the sport.  In the meantime the F1 commission will return to set the new rules.

So it looks like Flavio’s dream of becoming the new F1 Supremo won’t happen anytime soon.