The International Automobile Federation (FIA) president wrote to all member clubs saying he had received almost 100 messages of support from within the organisation but had decided to stand down anyway.
Mosley, 69, said a new commercial 'Concorde' agreement for Formula One was close to being finalised while new teams had been brought in and costs reduced.
The Briton said that, as an ex officio member of the FIA Senate, he hoped to play "a modest role" in that team. "I believe the right person to head that team would be Jean Todt," he added.
Published 15 July 2009, 17:21 IST