Zoom The FIA has made clear the cap will be £40m as FOTA come in with higher offer

F1's ‘rebel’ FOTA members have moved to end the standoff with the FIA by devising a final offer of compromise, it emerged on Wednesday.

With Friday looming as yet another crunch deadline, the association - comprised of every current team except Williams and Force India - wrote to Max Mosley with a proposal to resolve the dispute over the budget cap rules.

"The time has come when, in the interests of the sport, we must all seek to compromise and bring an urgent conclusion to the protracted debate regarding the 2010 world championship," the letter read, according to Reuters.

"We hope that you will consider that this letter represents significant movement by the teams, all of whom have clearly stated a willingness to commit to the sport until the end of 2012," it added.

In the letter, FOTA proposes that the budget cap - now called ‘resource restriction’ - be policed by a group of independent accountants of their choosing, with annual results submitted to the FIA.

"We can see no reason why such a system based on objective verification of compliance would not be acceptable to all parties," the letter read.

FIA President Max Mosley had agreed to soften the 2010 cap to 100m Euros, before it reduces to €45m/£40m in 2011.

FOTA is also seeking that Friday's deadline for finalising the 2010 entry list be extended for nearly another two weeks, to July 1st, so that a new Concorde Agreement can be negotiated and signed.

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Source: GMM