Formula One can expect to see major changes from 2006 after team bosses agreed to speed up the introduction of measures to save money and improve racing at a meeting in Monaco today.
"I couldn't have asked for more from the meeting," International Automobile Federation (FIA) president Max Mosley said after a gathering of team bosses to discuss proposals put forward by the FIA.
Mosley said there had been agreement on most of the issues put forward, with all teams agreed on the need to cut costs sooner rather than later.
A new engine formula, still to be finalised after further talks between the engine makers over the next month, was likely from 2006 along with a single tyre supplier, he said.
Some smaller changes could be introduced in 2005, subject to certain conditions, while a controversial qualifying system introduced this season and widely condemned by broadcasters, could be jettisoned before the end of this season.
Mosley said the meeting had effectively ended any threat of the car manufacturers setting up their own championship in 2008 once an existing 'Concorde Agreement' between teams, FIA and Bernie Ecclestone expires.
He said commercial supremo Ecclestone had agreed to increase revenue payments to teams in line with what had previously been agreed with the GPWC group of carmakers before talks between the two sides broke down this month.
"Everything the GPWC set out to get, they have got," Mosley said. "Their raison d'etre has disappeared."