Looks like there won’t be any break-ups in the world of Formula 1 racing at all. The Times UK says that F1 head honcho Max Mosley is allegedly forced into resignation with all these brouhaha involving him, including the supposed breakaway of FOTA from the circuit. But the FIA realized that the only solution is to sack their president.

With this development, the F1 teams and the sanctioning body will now be in terms with regards to “getting spending outlays back down to that of the early Nineties within two years.”

Aside from the the decision of FOTA to drag high-profile F1 teams like Ferrari, McLaren, BMW Sauber, and Brawn GP to form another circuit with regards to the new £40m budget cap (around $66m USD), it seems that Mosley had given up and waved the white flag in a last ditch stand to save his already controversial name.