Formula One Teams' Association (FOTA) president Luca di Montezemolo is set to meet with FIA president Max Mosley before the Monaco Grand Prix to try and find a solution to the dispute over a two-tier future for the sport, AUTOSPORT has learned.
Amid a growing threat from manufacturer teams that they may carry out a block boycott of lodging their entries to next year's world championship because they are not happy about plans for a £40 million voluntary budget cap, moves to get a solution on the table are now increasing.
FOTA representatives met for two hours in the Spanish Grand Prix paddock on Sunday morning, with FOTA vice-chairman John Howett also seen in intense talks with Formula 1 supremo Bernie Ecclestone afterwards.
AUTOSPORT understands that di Montezemolo and Mosley have now agreed to meet within the next 10 days, with the possibility of a separate teams' meetings as well, although it is not thought that a firm date has yet been settled.
Howett, who revealed earlier in the weekend that Toyota would not lodge an entry for 2010 unless changes are made to the rules, confirmed the news when asked on Sunday morning.
"As far as I understand between Luca di Montezemolo and Max Mosley, they have agreed to meet if not next week then the week following," said Howett. "I haven't had the chance to speak to him, but I think there is a possibility to meet certainly within the next seven to 10 days."
Howett said that talks within FOTA to come up with effective cost-cutting proposals were ongoing, although it was too early to say what the teams would push the FIA for.
When asked where the situation was now, Howett said: "I don't know really. All I can say is that we had a very constructive FOTA meeting this morning, continuing the next phase of what we would like to see as cost reduction.
"Today's meeting was more about actually continuing the process that we have achieved this year. We have achieved in our case around a 35-40 per cent saving and I think the show is as good as it has ever been, and we are continuing the decision on 2010 and 2011. We will then place that forward to the governing body."
Howett said the regulations as they currently stand were confusing, as the technical possibilities offered by those signing up for a budget cap meant investment far higher than the £40 million on offer.
"In the case of Toyota we don't like the idea of a two-tier F1," he said. "It is clear that you would need to compete at the £40 million budget cap because the car would be quicker. And if you see that the engine revs are unlimited, then engines excluded from the cap, the KERS is excluded, you are probably talking about a budget of £150 million or more. It is a very confused situation that we need to clarify more."
When asked if he felt the situation could get sorted out in the short term, he said: "I don't know. I think really as a company we want to remain in F1 as I understand it.
"But there are issues that need clarifying. We want a much more clear and definitive governance process which gives us confidence in the way the regulations are changed, and that allow us to plan. We are totally in favour of continuing cost reduction and shall we say reducing the cost of entry to F1."