The FIA has confirmed that agreement has been reached between F1's 13 2010 teams to revert to 2009 regulations for next season, thereby scrapping the voluntary £40m budget cap and two-tier regulations due to be introduced next season. A meeting was held today at the Nurburgring ahead of this weekend's German Grand Prix. Along with the sport's 10 current teams, 2010 newcomers US F1, Manor and Campos were also present.

The FIA and the Formula One Teams' Association (FOTA) on June 24th announced that they had reached an agreement to scrap the budget cap and two-tier championship in exchange for the teams committing to F1 until 2012 and beyond. However, only now have the non-FOTA teams given their approval to the agreement, following a meeting between all 13 teams and the FIA today.

However, the agreement is yet to be rubber-stamped, and is pending the signing of a legally binding agreement between all teams on cost-reduction, as was agreed on June 24th. In lieu of the budget cap, FOTA agreed to reduce team expenditure to the levels of the early 1990s - in the region of £40m excluding engine development. Also yet to be rubber-stamped is the increase in car weight to 620kg.

“Following the decision of the World Council on 24 June to revert to the pre-29 April version of the 2010 F1 Sporting and Technical Regulations, the FIA today met the teams which have entered the 2010 Championship to seek their agreement to these changes,” read an FIA statement.

“All changes have now been agreed subject only to the maintenance of the minimum weight at 620 kg and the signing of a legally binding agreement between all the teams competing in 2010 to reduce costs to the level of the early 1990s within two years, as promised by the FOTA representative in Paris on 24 June.”

However, in spite of the agreement reached between FOTA and the FIA last month, tension still exists between the parties. The FIA said in their press release that FOTA had walked out of their meeting before they had a chance to discuss further changes to the 2010 regulations, meaning the final appearance of next season's rules, now less than eight months away, is uncertain.

“The eight FOTA teams were invited to attend the meeting to discuss their further proposals for 2010,” continued the FIA. “Unfortunately no discussion was possible because FOTA walked out of the meeting.”

Although not mentioned by the FIA, Manipe F1 understands that the FOTA-propsed ban on in-race refuelling for 2010 will go ahead as planned.