A deal has been reached to secure Formula One's future after Bernie Ecclestone and the five rebel manufacturers agreed terms.

McLaren boss Ron Dennis revealed in Barcelona that all five members of the Grand Prix Manufacturers' Association are prepared to sign up to Formula One for 2008 and beyond.

They had held out for more money and a greater say in how the sport is run and talks have now reached an amicable conclusion with Formula One commercial rights holder Ecclestone.

Dennis confirmed: "All GPMA members are now prepared to sign."

The news confirms the shape of the Formula One grid post 2007, when the ruling Concorde Agreement expires.

All 11 current teams will stay on in the sport, to be joined by David Richards' Banbury-based Prodrive company.