Mercedes Hold Off F1 Quit

German car maker Mercedes announced it will not join the F1 quit threats in the upcoming days. The marque's motorsport director Norbert Haug avoided confirming a potential quit for the 2010 season, insisting a solution to the budget cap problem could be reached in the weeks to come.

Ferrari and Renault joined the quit threats earlier this week – after Toyota, BMW and Red Bull last weekend – announcing they'll refuse to sign up for next year's Formula One Championship if FIA's Max Mosley does not revise the controversial budget-related rules.

However, when asked by German news agency SID if the Stuttgart based company will do the same, Haug avoided to confirm such a decision. Probably still grateful to the governing body for getting away that easily in the “lie-gate” earlier this year, Haug said the German car maker is holding off, for now.

“All the teams agree that there cannot be a formula one with two different sets of regulations. We want to achieve a common solution to this and we think that it can be done. We will do everything we can to contribute,” said Haug, according to SID. He insisted, however, that the quit threats issued by Ferrari and Renault this week should be taken very seriously, as it's not mere political posturing.

FIA's Max Mosley is to meet with the Formula One Teams Association (FOTA) representatives this week, in London, to further discuss the voluntary budget cap rules. Martin Whitmarsh, team principal of McLaren Mercedes and responsible with Sporting Regulations within the team's body, is expected to be part of the FOTA delegation, alongside Toyota's John Howett and Ferrari's Luca di Montezemolo.