Silverstone, Britain - Behind-the-scenes talks were expected to be held at the British Grand Prix on Thursday in a last-ditch effort to end a Formula One crisis over a planned budget cap.

The ruling body FIA will publish its final list of 2010 entrants on Friday, with five teams including championship leaders Brawn GP listed only conditionally and Ferrari leading three others listed as unconditional against their will.

An exchange of letters on Wednesday between the eight teams in the umbrella organization FOTA and the ruling body FIA appeared to indicate that each side is interested in a compromise after all.

But FIA boss Max Mosley has dismissed a FOTA petition to extend the deadline for the 2010 grid until July 1.

The eight teams (Ferrari, Brawn, McLaren-Mercedes, Red Bull, Toro Rosso, Toyota, Renault and BMW-Sauber) oppose a FIA plan to introduce a budget cap of around 60 million euros from next season onwards and have threatened to form a breakaway series if their demands are not met on Friday.

Mosley has said he is open for talks, but only after the teams have entered unconditionally. In a letter to each of the rebelling teams, he expressed his readiness to set up the budget cap in two stages 2010 and 2011.

The FOTA, for its part, has offered new proposals as it also attempts to end the standoff which has overshadowed the sport for weeks.

Each side is under pressure.

Formula One would lose a lot of its value of the eight teams decide to quit. The grid would then only field two current teams, Williams and Force India, plus 11 new teams.

But the eight teams would also find it hard to set up a new series with its infrastructure of race tracks, marketing and television rights.

As a result, a last-minute compromise still appears to be in the best interest of each party. (dpa)