Formula 1 may avoided a crisis after F1's smaller teams walked away from Thursday's meeting having agreed to look over a proposal from the Strategy Group. On Thursday, the 11 teams met with F1 chief Bernie Ecclestone and FIA president Jean Todt bosses at Biggin Hill airport in London. The meeting was called after F1's smaller teams wrote a strongly worded letter to Todt having been told that the sport's Strategy Group - comprising Red Bull, Ferrari, McLaren, Mercedes, Lotus and Williams - had put the brakes on a budget cap. In the letter, the teams stated that the Strategy Group may have breached Europe's competition laws leading to reports that the European Union was...
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