After 12 hours of debate in Paris, FIA gave the verdict: McLaren will loose all the points accumulated in 2007 and will have to pay $100 million. Good news is that team drivers Lewis Hamilton and Fernando Alonso were not punished and can continue to compete for the season title.

McLaren could still be penalized for the 2008 championship, FIA, the sport’s governing body, said in a statement after a hearing. To be able to compete in the next season McLaren will have to prove that its cars do not use Ferrari's technology.

McLaren, which leads the current drivers’ and constructors’ standings, was punished by the World Motor Sports Council for allegedly using leaked secret technical documents belonging to F1 rival Ferrari.

"Ferrari is satisfied that the truth has now emerged," the Italian team said in a statement.