A deal has been reached between the Federation Internationale de l'Automobile (FIA) and the Formula One Teams Association (FOTA) to prevent the creation of a rival series in 2010.

FOTA revealed on 18 June that eight of the ten current Formula One racing teams were considering forming a breakaway Championship from next year over the distribution of revenue generated by commercial rights and the FIA's plans to introduce a budget cap. However, the FIA announced on 24 June that an agreement had been reached that will ensure that all current FIA Formula One World Championship teams will continue to compete next year, as well as the addition of three new teams.

The FIA also revealed that president Max Mosley is to step down from the organisation. A statement said: "In view of this new agreement and with the prospect of a stable future for Formula One, FIA President Max Mosley has confirmed his decision not to stand for re-election in October this year." At a FOTA press conference in Bologna, Italy, on 25 June, the president of the Toyota Formula One racing team, John Howett, called for the next FIA president to be a fully neutral figure.

Howett said: "The federation covers much more than just motor sport; it is in fact involved in worldwide touring and I think also from the position of manufacturers, they would wish to have somebody that was also able to represent appropriately the requirements of worldwide motorists, as well as purely focusing on sport."