"We have been greatly encouraged by the dialogue that has been introduced following the appointment of Chase Carey as Executive Chairman and CEO of the Formula 1 commercial rights holder and his new management team," the F1 teams said in a joint statement.
"Their approach has brought a new culture of transparency to the sport and illustrates willingness to debate fundamental issues such as the distribution of the prize fund monies, cost control and engine regulations.
"We are encouraged and reassured by the even-handed and fair negotiating approach taken by the new management of Formula 1 to all the teams and their issues.
"While the concerns leading to the complaint were fully justified, we believe this new approach provides the necessary degree of assurance that our concerns will be looked at objectively, and we prefer to resolve the issues facing the sport through dialogue rather than a legal dispute," the statement added.
The F1 sides also said that they want to support the transformation process in the motorsport and thus have resolved to withdraw their complaint with immediate effect.
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