Ecclestone makes peace with Mosley

Formula One supremo Bernie Ecclestone says he expects a new commercial agreement governing the sport to be signed after settling his differences with motor racing chief Max Mosley.

The pair, close associates for decades, have been publicly clashing for months over control of the sport with Ecclestone also calling for Mosley to stand down after a sado-masochist sex scandal.

"The bottom line is simple - we have moved to patch up our differences," the Times newspaper quoted Ecclestone as saying on Friday.

The 78-year-old, meeting reporters in his motorhome at the British Grand Prix, agreed that they were back on the same wavelength.

"We will get the Concorde Agreement signed, which we have been cracking away on for a long time," he said, referring to the confidential document to be signed by the FIA, teams and commercial rights holder that governs the workings of the billion-dollar sport.

"I don't need it, but the teams need it, so we will get that done. It's all in place."

Ecclestone said he backed Mosley's call for the teams to propose rule changes to cut costs and save resources.

In another sign of their new unity, he was quoted with Mosley in an FIA release on Friday announcing that Silverstone would lose the British Grand Prix to Donington Park in 2010.

Such a statement would normally be Ecclestone's preserve, as the commercial rights holder and deal maker.

"I've been battling with him (Mosley) now for a few years," Ecclestone said.

"Let the teams write the technical regulations. They know what they can afford to spend and what they want and don't want and what they think is good.

"They know what's good for the sport because they are part of it, they are spending the money, so they should write the regulations.

"We want the costs reduced in order that we can have other teams come in, so they've an opportunity to do it, and if they don't do it then the FIA will handle the regulations," continued Ecclestone.

"From my point of view, it's good."