F1 teams united but no agreement with the FIA

After a day of talks, Formula One’s teams and their governing body failed to reach an agreement on Friday on plans to cut costs and revise plans for a budget cap next year.

The teams convened on Renault boss Flavio Briatore’s super-yacht Blue Force for more than two hours in the afternoon and then, having agreed to remain united, met Max Mosley, president of the ruling body, the International Motoring Federation (FIA).

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