It appears as if the threat of losing Ferrari Toyota and Renault due to the budget cap row is over with reports that things should be settled later today when the remaining nine teams lodge their official entries into next year’s championship battle.

Although there has been very little said by the team’s themselves, but reports indicate that there will be a signing of a new Concorde Agreement in order to commit fully to the sport with technical regulations remaining the same for next season instead of being split apart into a two year championship while the controversial budget cap will be set at 100 million for 2010 and drop to 45 million in 2011.

How this will affect the number of new teams wanting to join the series is yet to be seen, however, it is doubtful that the majority will be able to raise the now 100 million necessary to compete next season.