Formula one team bosses this week have been meeting for more discussions about future rules.

The chief motivation of the London meeting is believed to have been efforts to stave off the threat of standard engines in 2010.

According to the British newspaper The Guardian, FOTA - the alliance of the ten F1 teams - is willing to agree to the FIA's counterproposal that manufacturers make customer engines available to privateers for no more than 5 million euros per season.

"This was a figure that we have targeted as being part of our objective," McLaren's Ron Dennis said.

With the 5m euro engines for 2010 combined with the extension of engine life next year from two to three races, FOTA is hopeful the FIA will be satisfied with the sport's cost-cutting agenda.

"This is a first package of proposals, voted unanimously, which will bring important cost reductions," Ferrari president Luca di Montezemolo, the FOTA chairman, told Italy's La Gazzetta dello Sport.

Source: GMM