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Motor racing-Deal reached to avoid breakaway F1 series - Mosley

Wed Jun 24, 2009 7:37am EDT

PARIS, JUNE 24 (Reuters) - A deal has been reached with Formula One teams to avoid a breakaway series next year, media reported FIA president Max Mosley as saying on Wednesday.

Mosely and eight teams had been at loggerheads over his plans to introduce a budget cap for 2010.

Mosley also said he would not stand for re-election as FIA president.

(Writing by Mark Meadows; Editing by; To query or comment on this story email sportsfeedback@thomsonreuters.com)



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