Cundy Sports Marketing and the ACT Cross Country Club, who have been locked in a war over race ownership and management rights, have tentatively agreed to withdraw from Federal Court proceedings and work together to stage the race on April 11.

Details of the agreement have yet to be finalised and the ACT Government would need to grant road closure approvals to allow the race to proceed.

However, both parties said last night they were hopeful the race would go ahead, ensuring hundreds of people who had paid fees and for flights and accommodation would not be left stranded.

On Monday, Cundy agreed to an offer made by the cross-country club. It would allow Cundy to manage and profit from this year's race while accepting the cross-country club as race owner.

After that the club would be able to manage the event itself or contract it out to a promoter of its choosing. The agreement would be a huge victory for the cross-country club, which would regain control of the race.

For more on this story, see the print edition of today's Canberra Times.