Ferrari abandon F1 breakaway plan!

It came as a surprise to me this morning when I read the Daily Telegraph that Ferrari have agreed to extend Formula One's Concorde Agreement until 2012, effectively ending the threat by the sport's major manufacturers to set up a rival competition.

The announcement means that Ferrari, the richest team in F1, have broken ranks with their partners in the Grand Prix World Championship (GPWC), which they set up with Mercedes, BMW and Renault to campaign for a greater share of the sport's revenues.

I am also getting organised for my Scouting 2007 meeting which is coming up pretty soon, tomorrow I should really try to make it to the gym!