According to strong speculation, the timing of the meeting has been planned to occur immediately after Wednesday's World Motor Sport Council summit.
Rumors indicate that a vote could be proposed to oust FIA president Max Mosley - or minimally reduce his power - thus potentially ending the standoff with the rebel teams.
It has emerged that the FOTA bosses met on Sunday morning in the Renault motor home, where it was decided that it would be unanimously declared that no peace deal with Mosley is being sought.
It was directly contradictory to Mosley's parallel suggestion that a deal is close, which according to another rumour was spurred on by pressure from F1 owner CVC's lawyers about the damaging nature of the political chaos.
"We have taken our decision and that's it. There is nothing more to discuss," Renault's Briatore was quoted as saying by the Spanish press.
"The FIA closed the door on us. We decided to do our own championship. There are no negotiations," he said, adding on Sunday that details of the new series will begin to be set in stone "next week".
"I am not interested in what Mosley says. It is not our business any more," said Briatore.
In Italy's Tuttosport, Ferrari president and FOTA chairman Luca di Montezemolo indicated he is looking forward to the breakaway.
"In November 2007, Ferrari and Kimi Raikkonen won the formula one world championship because there were clear rules and it was possible. No longer," said the Italian.
Montezemolo will attend Wednesday's FIA summit.