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DATE News (chronologically)
06/18/09
f1
FOTA announces breakaway series, doom F1 UPDATE Full statement released by the Formula One Teams Association on Friday on behalf of BMW-Sauber, Brawn GP, Scuderia Ferrari, McLaren-Mercedes, Red Bull Racing, Renault, Scuderia Toro Rosso and Toyota, announcing a breakaway series after failing to resolve their dispute with the FIA:

"Since the formation of FOTA last September the teams have worked together and sought to engage the FIA and commercial rights holder, to develop and improve the sport.

"Unprecedented worldwide financial turmoil has inevitably placed great challenges before the F1 community. FOTA is proud that it has achieved the most substantial measures to reduce costs in the history of our sport.

"In particular the manufacturer teams have provided assistance to the independent teams, a number of which would probably not be in the sport today without the FOTA initiatives.

"The FOTA teams have further agreed upon a substantial voluntary cost reduction that provides a sustainable model for the future. Following these efforts all the teams have confirmed to the FIA and the commercial rights holder that they are willing to commit until the end of 2012.

"The FIA and the commercial rights holder have campaigned to divide FOTA. The wishes of the majority of the teams are ignored. Furthermore, tens of millions of dollars have been withheld from many teams by the commercial rights holder, going back as far as 2006. Despite this and the uncompromising environment, FOTA has genuinely sought compromise.

"It has become clear however, that the teams cannot continue to compromise on the fundamental values of the sport and have declined to alter their original conditional entries to the 2010 World Championship. These teams therefore have no alternative other than to commence the preparation for a new championship which reflects the values of its participants and partners.

"This series will have transparent governance, one set of regulations, encourage more entrants and listen to the wishes of the fans, including offering lower prices for spectators worldwide, partners and other important stakeholders.

"The major drivers, stars, brands, sponsors, promoters and companies historically associated with the highest level of motorsport will all feature in this new series."

06/18/09 It appears as if the crisis in Formula One is only set to get bigger with FOTA announcing here in Silverstone tonight that they have chosen to launch their own breakaway series next season, a move that will split the pinnacle of Motorsports in two.

This move has been on the cards for some months now with the situation getting to the point of no return earlier this week when the FIA accused ‘certain members of FOTA’ of having their own agenda.

The eight remaining teams in FOTA have been huddled together in Renault’s Enstone headquarters tonight and they all agreed that they had no alternative than to go down this path. zzzz

"The teams cannot continue to compromise on the fundamental values of the sport and have declined to alter their original conditional entries to the 2010 World Championship. These teams therefore have no alternative other than to commence the preparation for a new Championship which reflects the values of its participants and partners,” Autosport quoted them as saying in a statement.

“This series will have transparent governance, one set of regulations, encourage more entrants and listen to the wishes of the fans, including offering lower prices for spectators worldwide, partners and other important stakeholders. The major drivers, stars, brands, sponsors, promoters and companies historically associated with the highest level of motorsport will all feature in this new series."

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