Renault, BMW, Mercedes, Toyota and Honda ,who threatened to launch a breakaway series ,have signed a committment with the FIA to support the 2008 series  - although they are still unhappy with the way the sport is being run

The GPMA statement said: "The teams look forward to beginning discussions with the FIA in order to finalise the regulations for 2008.

"The GPMA members are united and remain committed to improve the sport for the benefit of all stakeholders."

"Significant progress" had been made in "ongoing" discussions with F1 commercial rights holder Bernie Ecclestone.

"There are several open issues still to be discussed and it is too early to speak of a final agreemen."