Barcelona: The threat of a breakaway Formula One series ended on Sunday after BMW, Renault, Honda, McLaren Mercedes and Toyota agreed to stay until 2012.
The five teams make up the Grand Prix Manufacturers Association, which had threatened to leave after the 2007 season when the agreement expires.
The accord sets out how revenues are divided among teams, commercial chief Bernie Ecclestone and FIA, the world governing body.
"All GPMA members are now prepared to sign," McLaren chief Ron Dennis said.
Four non-GPMA teams - Ferrari, Williams, Midland F1 and Red Bull Racing - had already signed on to extend the F1 commercial deal, which involved an increase in revenue for teams
The deal "constitutes a comprehensive solution for the future of the sport," GPMA chairman Burkhard Goschel said.
"We can build on this result and look forward to jointly grow FormulaOne and make it an even bigger sporting spectacle than ever before."
The GPMA had been pushing for increased revenue for the teams, more financial transparency and limits on FIA's power.
It also wanted appeals to be taken to the independent Court of Arbitration for Sport rather than FIA's own court.
"We will now pursue our constructive dialogue with the FIA and other teams to achieve our shared objectives of an improved sport show and reduced costs," Renault president Alain Dassas said.
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