Ferrari and McLaren settle dispute

The scandal that rocked Formula One last summer and resulted in McLaren paying a record $100m fine to the FIA is now over. Today McLaren and Ferrari issued statements stating that 'various disputes' between the rivals teams have been resolved.

McLaren has agreed to pay the cost incurred by Ferrari and the Italian team has pledged to give the proceedings to charity. The team are however to continue legal action against former team engineer Nigel Stepney.

McLaren statement
"In light of the formal closure in December 2007 of the FIA and FIA World Motor Sport Council proceedings against McLaren, and of McLaren’s public apology to Ferrari which we have reiterated, Ferrari and McLaren have agreed to bring the various disputes between them in relation to this matter to a final conclusion."

"McLaren has also agreed to the reimbursement of Ferrari’s costs and expenses relating to these matters and a concluding payment.

Ferrari statement
"Ferrari acknowledges McLaren's reiterated apology for the well known events which occurred during the 2007 F1 Championship and, in the best interests of Formula 1 and taking into account the formal closure in December 2007 of the FIA and FIA World Motor Sport Council proceedings against McLaren, it confirms that it has accepted to put an end to all outstanding controversies between the two teams. Ferrari will donate to charity the concluding payment received from McLaren."

"Ferrari will pursue its claims against Nigel Stepney in connection with the matter."