While Sebastian Vettel captured headlines on-track at this year's Grand Prix, the world's media was gripped by the escalating stand-off between F1 governing body the FIA and the independent Formula One Teams Association (FOTA).

A team budget cap proposed by the FIA met furious opposition from FOTA, which threatened to form its own breakaway series if the plans were forced through.

FOTA, made up of eight F1 constructors with the exception of Williams and Force India, disagree with the FIA's stance on budget reduction. On Friday, it released a statement saying it would look to form a new independent series.

But on Wednesday afternoon, following FIA president Max Mosley's announcement he would stand down in October, FOTA and its partners agreed to FIA terms, and a breakaway series was averted.

F1 commercial rights holder Bernie Ecclestone has remained quiet on the situation so far, although the 78-year-old is thought to have been heavily involved in talks with both sides.

Although Silverstone hosted what could be its final race as a F1 venue last weekend, there is speculation Donington Park, which was awarded the contract to hold the big race for 17 years from 2010, may not be finished in time.

In the past, Mr Ecclestone had said Silverstone would not host the British Grand Prix even if Donington was not ready.

But on Saturday, he appeared to perform a U-turn when he said: "If Donington Park are unable to complete, then yes, we will be back here at Silverstone next year."

Around 310,000 fans turned out to watch this year's race at Silverstone last weekend.