The FIA and the Grand Prix Manufacturers Association have reached a deal regarding F1's rules that should see their long-running feud finally come to an end.

The GPMA had threatened to start a series to rival Formula One if their demands over the running of F1 and the manner in which the finances generated through the sport were not met.

That threat was put to rest in May when Bernie Ecclestone signed a deal with the five-strong GPMA group - Renault, DaimlerChrysler (Mercedes), BMW, Honda and Toyota.

However, the GPMA were still a logger-heads with the FIA over technical issues as well as the way in which Formula One's rules are decided and governed.

That, though, has now been resolved, according to FIA President Max Mosley and BMW's Burkhard Goeschel, who told the Financial Times newspaper that an agreement had been reached between the FIA and GPMA regarding all outstanding issues.

The two described the deal as "a major breakthrough, unquestionably a fundamental change in the way we go about managing the rules."

They added: "We defined the objectives of road relevance, lower costs and social relevance and then we defined the rules."

The newspaper went on to say that in future, any discussions about Formula One new rules would be conducted with all the sport's manufacturers at main board level, while independent teams would also have a say.