On 29 July 2008, the ten currently competing teams created the Formula One Teams Association (FOTA) to negotiate the terms of contract. After a dispute between FOTA and the FIA in the first half of 2009, a new Concorde Agreement was signed by Mosley and all of the teams, although Sauber, in transition as majority owner of BMW, had announced, shortly beforehand, its intention of withdrawing from the sport at the end of the season, so waited until a controlling stake of the team was returned to Peter Sauber before signing. The new agreement provides for a continuation of the terms of the 1998 agreement, and runs until 31 December 2012. At the same meeting of the FIA World Motor Sport Council, a programme of resource restriction was also agreed upon, as were a revised set of sporting and technical regulations for the season.