Racing Point has opted not to pursue its appeal in the latest development regarding the brake duct saga.
The team was docked 15 constructors' championship points and fined €400,000 after being found guilty of breaking the FIA sporting regulations and using rear brake ducts on its current RP20 that were a copy of those on last year's Mercedes W10.
The penalty sparked fury from owner Lawrence Stroll and an impassioned defence of Racing Point's integrity.
The team, however, has now decided to accept its punishment and move on in the wider interests of Formula 1.
A team statement read: "We welcome the resolution the teams have agreed, and we’re pleased the FIA has provided much-needed clarification of the rules on listed and non-listed parts.
"The stewards and all parties involved in the appeals process recognise that there was a lack of clarity in the regulations and that we did not deliberately break them.
"Now that the ambiguity around the regulations has been settled, we have decided to withdraw our appeal in the wider interests of the sport.
"This issue has been a distraction for us and the other teams, but now we and everyone else can get back to focusing solely on what we’re all here to do: racing hard and providing excitement and entertainment for the millions of F1 fans around the world."
Renault had initially protested the brake ducts, which resulted in a stewards' hearing prior to the 70th Anniversary Grand Prix at Silverstone, and subsequent penalties.
Racing Point naturally lodged its intention to appeal the punishment, while Renault, Ferrari, Williams and McLaren all did likewise in opposition, believing the penalty was too lenient.
McLaren and Williams subsequently withdrew before the deadline to confirm an appeal, while recently Renault also pulled out of the process after gaining clarity from the FIA on the rules going forward.
With Racing Point now standing down, it just leaves Ferrari, with the team expected to clarify its position soon.
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