Mosley agrees with the FOTA proposal of teams self-policing their own budget caps via an independent company, who will later submit their findings to the FIA. In addition, the 78-year old Englishman confirmed he'll secure a 100 million euro budget cap for the 2010 season, while further reduced to 45 million euros in 2011.
Mosley did not mention a potential threshold for the aforementioned budget cap from 2012 onwards, but it is expected to be further reduced until 2014. Also, the “self-reporting” will have to be investigated by a “mutually acceptable auditor”, as shown in the letter.
In addition, the FIA president offered the teams to extend the expired 1998 Concorde Agreement so that it stretches until 2014. This is something the teams will likely find it hard to accept, given the fact that all F1 manufacturers (mostly) and independent teams were looking for a revised Concorde Agreement, aimed at increasing the commercial revenues from 2010 onwards.
Also, Mosley said he is willing to accept and discuss new proposals coming from the Formula One teams regarding the procedures and processes judged by the International Court of Appeal.
As a conclusion of our own, it doesn't seem like Mosley has given up on many of his initial requirements. Standard engine still stands, so does the budget cap, same Concorde Agreement and, just as a small teaser, the revision of ICA's processes. Let's wait for the teams now...