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Ferrari and Red Bull drop out of FOTA UPDATE #3
Formula One Teams' Association members are to meet on Tuesday to discuss how the group should proceed following the resignations of Red Bull Racing and Ferrari last week.

Ferrari and Red Bull Racing elected to quit the organization in the wake of mounting frustrations following a long-running dispute over the implementation of the Resource Restriction Agreement (RRA). Although their exit, which will become official at the start of February, prompted talk that FOTA could fall apart, high level sources within FOTA say they are actually upbeat about its future.

One team principal, whose team remains a member of FOTA, said that the removal of Red Bull Racing and Ferrari could actually provide some benefits to the organization, in allowing it to get things done.

"It could now be easier to make some positive decisions, rather than there being this log jam with things constantly being blocked by teams arguing with each other," said the source. "So, let's see where we stand after the meeting." Racer.com

12/03/11 (GMM)  Ferrari and Red Bull have pulled out of the formula one teams association FOTA. Both the top teams separately confirmed the news, with a FOTA spokeswoman saying: "We are trying to arrange a meeting to sit the teams around the table and see where this takes us."

The move follows a disagreement about the future of FOTA's voluntary cost-cutting resource restriction agreement.

"(Red Bull) will remain committed to finding a solution regarding cost saving in F1," the reigning world champion team said in a statement.

Ferrari confirmed its decision was made due to the "stalemate" over "some issues at the core" of FOTA's purpose.

"FOTA's drive has run its course, despite the excellent work of current president, (McLaren team boss) Martin Whitmarsh in trying to reach agreement between the various positions for the common good," added the famous Italian team.

The Spanish team HRT quit FOTA early this year. zzzz

12/02/11 Red Bull Racing has also confirmed it will withdraw from the Formula One Team's Association. "Red Bull Racing can confirm it has served notice to withdraw from the Formula One Teams' Association," said Red Bull in a statement. "The team will remain committed to finding a solution regarding cost saving in Formula 1.".  Stick a fork in it, it's done.

12/02/11 Ferrari has confirmed that it will be leaving the Formula One Teams Association (FOTA) ahead of the 2012 season, also taking the opportunity to outline the reasons for doing so. A statement on the team's official website explained that although the decision was not an easy one to make, the stalemate with regards to certain issues, specifically cost reduction, has led it to withdraw from the organization.

"It was a difficult decision and a great deal of thought went into it," read the statement. "It was taken reluctantly after analyzing the current situation and the stalemate when it came to debate on some issues that were at the core of why the association was formed, indeed with Ferrari and Luca di Montezemolo as the main instigator and promoter of ideas.

"It’s not by chance that the President of the Maranello company held that same position and job title within FOTA up to the end of 2009. Some of the major achievements of the association during these years, also worked out in conjunction with the FIA, centered around cost reduction, which was of significant benefit to everyone, the big teams and the small ones.

"Ferrari was on the front line in this area, even before the birth of FOTA and it intends to continue to ensure the sustainability of the sport in the long term. Now however, it is necessary to find some new impetus to move it along because FOTA’s drive has run its course, despite the excellent work of current President, Martin Whitmarsh in trying to reach agreement between the various positions for the common good.

Despite its recent decision, Ferrari has insisted that it will continue to work on fine tuning the Resource Restriction Agreement (RRA), with controlling costs still a priority.

"Ferrari will continue to work with the other teams to make the current RRA, aimed at controlling costs, more effective and efficient, modifying it to make it more stringent in key areas such as aerodynamics, to rebalance some aspects such as testing and to expand it to areas currently not covered such as engines," the statement concluded.

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