Renault Boss Affirms Gpma Resolve

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RENAULT BOSS AFFIRMS GPMA RESOLVE

ITV

RenaultF1 team president Patrick Faure has re-affirmed the GPMA's commitment to create its own breakaway series in 2008 in the wake of Bernie Ecclestone and BayernLB's proposed sale of 75% of Formula 1's commercial rights to CVC Capital Partners.

Faure claimed that the deal, which still needs approval from the FIA and the European Commission, would have no effect on the manufacturers' plans to create their own series unless the new owners intended to change the way sport's revenue was distributed.

"Nothing changes," Faure told autosport.com.

"It is a question of how the money is going to be split between the organisers of F1, whoever has bought Bernie's shares, and the teams.

"At the moment there is absolutely no change in our position, we are still negotiating in very good faith, but very firmly, to have a bigger part of the cake."

Faure also warned that time is running out for a reconciliation between the manufacturers and the FIA over the future of Formula 1's commercial structure.

The GPMA's plans must soon crystalise in order for all the elements to be in place in time for a series to run in 2008, explained the Frenchman.

"I think it is true that the end of this year is probably a turning point," said Faure.

"We cannot wait much more for the new championship, because we need to sign circuits to organise ourselves.

"So we have seen each other this week and we are starting to launch a few things, but the next coming weeks are really going to be important for us now."