"The time has come when, in the interests of the sport, we must all seek to compromise and bring an urgent conclusion to the protracted debate regarding the 2010 World Championship," the Formula One Teams Association said.
A copy of the letter, addressed to International Automobile Federation (FIA) president Max Mosley and Formula One's commercial supremo Bernie Ecclestone, was seen by Reuters.
"We hope that you will consider that this letter represents significant movement by the teams, all of whom have clearly stated a willingness to commit to the sport until the end of 2012," it added.
"We would therefore strongly but respectfully submit that you consider these proposals and seek to avoid the potential departure from Formula One of some important teams. Now is the time to find a reasonable and rapid solution to the outstanding issues."
Published 17 June 2009, 17:15 IST