Formula One Teams' Association members are to meet on Tuesday to discuss how the group should proceed following the resignations of Red Bull Racing and Ferrari last week.
Ferrari and Red Bull Racing elected to quit the organization in the wake of mounting frustrations following a long-running dispute over the implementation of the Resource Restriction Agreement (RRA). Although their exit, which will become official at the start of February, prompted talk that FOTA could fall apart, high level sources within FOTA say they are actually upbeat about its future.
One team principal, whose team remains a member of FOTA, said that the removal of Red Bull Racing and Ferrari could actually provide some benefits to the organization, in allowing it to get things done.
"It could now be easier to make some positive decisions, rather than there being this log jam with things constantly being blocked by teams arguing with each other," said the source. "So, let's see where we stand after the meeting."
Further support for FOTA came on Monday when Mercedes GP chiefs also backed the future of FOTA, which they felt needed to stay together for the good of the sport.
"I think it is absolutely vital that FOTA is existing," declared Mercedes-Benz motorsport boss Norbert Haug. "The aims that we are having, the targets, are very important and I think it is up to the so-called top teams to really balance it out."
Although Ferrari and Red Bull Racing's frustrations are understood to have been caused by the RRA debate, both teams are still committed to making the cost control work. The two teams, plus Mercedes GP and McLaren, will get together in the next few weeks to discuss a solution to the ongoing standoff over the RRA.
Mercedes GP CEO Nick Fry said: "It's obviously quite a difficult time at the moment and clearly we, Mercedes AMG, are very supportive of cost control in F1. It's a difficult thing to achieve when everyone is so competitive but we certainly will work with others to try and fulfill the aim of an RRA. I think even though Ferrari has withdrawn, it also is intent on finding a solution to this.
"We've certainly hit a bump in the road, but I believe that work will continue in the background to try and resolve this and we will do whatever we can to support that."