Have they come to an agreement?

FIA president Max Mosley claims that a deal to prevent the eight FOTA teams from forming a breakaway series is imminent.

The Formula One Teams' Association announced their plans for a rival series on Friday after failing to reach an agreement over regulations for 2010.

Mosley subsequently threatened to sue the eight teams, but now says he will suspend legal action to agree a deal.

"There won't be any writ. I think we would rather talk than litigate," he said.

"We are very, very close as far as the facts are concerned. It's just if the teams want to sit down and iron out the last few difficulties."

The president echoed a statement from McLaren team principal Martin Whitmarsh that any agreement would have to be reached by the end of July.

Mosley added: "I would agree with that. If this goes on for any length of time, it damages the teams. It doesn't affect the FIA, it damages the teams because it affects their sponsors."

Formula One Management boss Bernie Ecclestone was also happy about the news that a rival series may not go ahead.

"If Max says (a deal) is close, then that's good," he said.