Formula One supremo Bernie Eccelstone has offered hope of ending the gridlock between the FIA and FOTA, saying 2010?s proposed two-tier system will be scrapped.
During last week?s crisis meeting at Heathrow, Ecclestone said it was unanimously agreed that next year?s championship should operate under a single set of regulations.
"I think the most important thing that upset everybody, they didn't like, was this two-tier technical system, so I think it has been agreed that we shouldn't have that. We should have just one set of regulations," he said to the BBC.
?The two-tier system is out of the window. I always thought that was a bit stupid. It was important to get rid of it. There has been an agreement in principle. Everyone will have the same regulations.?
While the two-tier system has been the main point of contention, doubts were also cast over the feasibility of capping team expenditure at ?40 million, a relatively small figure in the world of Formula One.
Ecclestone however believes teams are now willing to partake in a compulsory budget cap, should the level be raised.
"I think everybody is more or less happy with the budget cap, although just how much? They will go with it higher, maybe it will be lower. It's just a case of sorting it out. I am confident all the teams will still be racing next year,? he said.
FIA President Max Mosley though remains pessimistic about the chances of settling the dispute before the May 29 entry deadline, claiming as few as three teams will submit entries by the end of the month.
?I think that we will probably get anywhere between three and six teams by the deadline,? he said.