Jun.7 (GMM/Inautonews.com) Ross Brawn has revealed he feels “optimistic” Mercedes will reach a deal with Bernie Ecclestone for the new Concorde Agreement.

Earlier, the German carmaker had threatened to quit formula one because rival top teams including Ferrari, McLaren and Red Bull had agreed much better deals for the new agreement beyond 2012.

“You’ll have to wait to see,” F1 chief executive Ecclestone said recently in Monaco, “but I’m confident everything with Mercedes will be fine.”

Briton Brawn, the Brackley based Mercedes team’s principal, is now sounding similarly hopeful.

“We have finally made good progress in the negotiations with Bernie Ecclestone,” he is quoted by Germany’s Sport Bild.

“That’s why I am optimistic that we will find a solution,” added Brawn.