Date: 20th January 2016 at 10:19am
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The FIA and the current manufacturers in Formula One have come to an agreement over engines, paving the way to the end of a potential crisis.

The growing engine crisis within Formula One could have potentially destroyed the sport, according to many within the media and within the sport.

That scenario has hopefully now been finished with an agreement from Ferrari, Mercedes, Renault and Honda.

F1 supremo Bernie Ecclestone and FIA president Jean Todt had been preparing new engine regulations for the sport and had appeared to be in favour of introducing a cheaper alternative engine for teams to purchase.

It was thought that this alternative engine would drop one of the aspects of the current hybrid system.

The manufacturers wanted to avoid this and have come up with a compromise to end the potential of those rule changes coming into play.

The agreement will now go forward for formal approval and would be in effect from the start of the 2018 season.

It is thought that Ferrari, Mercedes, Renault and Honda have agreed to lower the cost of supplying engines to customer teams to in the region of ‘£7.9million to £9.5million’ down from ‘£13.8million to £17.7million’ according to the BBC.

Sky Sports have reported that ‘the deal to reduce the cost of customer supplies was made in exchange for keeping the current V6 hybrid engines until at least 2020.’

The new engine regulations were agreed by committee and in principle the move from V8 aspirated engines to V6 Turbo-Hybrid engines was the right one.

Formula One represents the pinnacle of motor racing, both with its drivers and its technology and the switch was exactly what inspired Honda to return to the sport and to keep Renault from leaving it.

But the rules and regulations that were agreed were far too complicated and has seen costs spiral.

The idea behind keeping the engines for a longer period of time will see the manufacturers receive a longer return for their investment.

The manufacturers have also guaranteed to supply all the teams, how this will work in practice is unknown, but it should end the farcical scenes last year when Red Bull Racing were struggling to find a manufacturer willing to supply both them and sister team Toro Rosso.

Sky Sports News HQ’s Craig Slater said: ‘What has been agreed is that all teams must be supplied, there will be a guarantee for all the entrants that they will take delivery of some kind of power unit.

To further reduce costs the number of gearboxes permitted for a season will be reduced from five to three and the proposed suggestion of a return of refuelling will be dismissed.