Australian GP organizing dispute now over

(GMM) A dispute that threatened to derail the future of the Australian grand prix has been resolved.

The organizer of the Melbourne event, Australian Grand Prix Corporation (AGPC) chairman Ron Walker, dashed to the Abu Dhabi finale last month when the country's sanctioning body threatened to recommend the cancellation of the 2011 race.

The AGPC and CAMS, the Confederation of Australian Motor Sport, were at loggerheads over $800,000 in fees that Walker was refusing to release.

"We will not sign a new contract with CAMS unless they modernize their management and reduce their prices," he said in November.

Reports at the weekend suggested CAMS president Andrew Papadopoulos had told the media that the row is over.

"CAMS is delighted to have reached this agreement," confirmed chief executive David Morgan in a letter to CAMS affiliates.