Date:12/07/2008 URL: http://www.thehindu.com/2008/07/12/stories/2008071260611800.htm

Sport - Racing : Motor

McLaren and Ferrari settle dispute

Woking (England): The McLaren team settled its disputes with Ferrari on Friday and agreed to pay the Italian team’s court costs from the Formula One spy scandal.

McLaren apologised last December after Ferrari data and documents were found at its chief designer’s home, resulting in a record $100 million fine for the team and disqualification from the 2007 constructors’ championship.

“Ferrari and McLaren have agreed to bring the various disputes between them in relation to this matter to a final conclusion,” McLaren said in a statement. “McLaren has also agreed to the reimbursement of Ferrari’s costs and expenses relating to these matters and a concluding payment.”

Ferrari issued a separate statement acknowledging McLaren’s apology and agreeing to end “all outstanding controversies between the two teams.” — AP