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F1 carmakers ready to sign commercial deal

Written by: Staff

BARCELONA, May 14 (Reuters) Formula One carmakers are ready to sign a deal with the sport's commercial rights holders that will end the threat of a rival series from 2008, McLaren boss Ron Dennis said today.

''The five members of GPMA now have a complete agreement,'' he said.

''From GPMA's point of view we are now at a point where we are prepared to sign a document.

''Hopefully it will be executed today.

''This will constitute now the biggest single commercial resolution and will allow us to move forward to focus on the future of Formula One.'' The Grand Prix Manufacturers' Association (GPMA) groups champions Renault, BMW, DaimlerChrysler's Mercedes, Honda and Toyota, who all have teams.

Reuters DH GC1550

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