The threat of a breakaway Formula One series ended yesterday after BMW, Renault, Honda, McLaren Mercedes and Toyota agreed to stay until 2012.


The five teams make up the Grand Prix Manufacturers Association (GPMA) which had threatened to break away after the 2007 season when the Concorde Agreement expires.
The accord sets out how revenues are divided among teams, commercial chief Bernie Ecclestone and world governing body FIA.


Four non-GPMA teams -- Ferrari, Williams, Midland F1 and Red Bull Racing -- had signed on to extend the F1 commercial deal, which involved an increase in revenue for teams.



The deal

"constitutes a comprehensive solution for the future of the sport," GPMA chairman Prof. Burkhard Goschel said in a statement. "We can build on this result and look forward to jointly grow Formula One and make it an even bigger sporting spectacle than ever before."