F9
19th June 2009, 16:58
Formula 1 on brink of collapse
FORMULA ONE was in crisis last night after eight of its 10 teams confirmed they are to form a breakaway series.
The decision will cause the greatest upheaval in the sport's 60-year history.
Following a meeting late in the evening, the eight teams that currently form the Formula One Team's Association have all declined to enter F1 for 2010 after a row over budget caps.
A FOTA statement said: "It has become clear that the teams cannot continue to compromise on the fundamental values of the sport.
"The major drivers, stars, brands, sponsors, promoters and companies historically associated with the highest level of motorsport will all feature in this new series."
The eight teams that make up FOTA are Ferrari, McLaren, Renault, Toyota, BMW Sauber, Brawn GP, Red Bull Racing and Toro Rosso.
Williams and Force India are suspended from FOTA and not part of the breakaway plan.
The row started last year as FOTA disputed the FIA's plans to enforce budget and technical changes in 2010.
Despite weeks of negotiations with FIA president Max Mosley, the two bodies have failed to find a compromise, leaving the sport in total chaos.
Mosley this week wrote to the FOTA teams in a desperate late attempt to end the budget row.
After a four-hour meeting, the FOTA statement continued: "Since the formation of FOTA last September the teams have worked together and sought to engage the FIA and commercial rights holder Bernie Ecclestone, 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.
"But these teams have no alternative other than to commence preparation for a new championship, which reflects the values of its participants and partners.
"The wishes of the majority of the teams are ignored. Furthermore, millions of dollars have been withheld from many teams by the commercial rights holder, going back as far as 2006."
Double world champion and Renault driver Fernando Alonso confirmed this week that he would be open to the idea of a breakaway championship.
BMW's Nick Heidfeld insisted the row is creating a negative attitude towards the sport.
FORMULA ONE was in crisis last night after eight of its 10 teams confirmed they are to form a breakaway series.
The decision will cause the greatest upheaval in the sport's 60-year history.
Following a meeting late in the evening, the eight teams that currently form the Formula One Team's Association have all declined to enter F1 for 2010 after a row over budget caps.
A FOTA statement said: "It has become clear that the teams cannot continue to compromise on the fundamental values of the sport.
"The major drivers, stars, brands, sponsors, promoters and companies historically associated with the highest level of motorsport will all feature in this new series."
The eight teams that make up FOTA are Ferrari, McLaren, Renault, Toyota, BMW Sauber, Brawn GP, Red Bull Racing and Toro Rosso.
Williams and Force India are suspended from FOTA and not part of the breakaway plan.
The row started last year as FOTA disputed the FIA's plans to enforce budget and technical changes in 2010.
Despite weeks of negotiations with FIA president Max Mosley, the two bodies have failed to find a compromise, leaving the sport in total chaos.
Mosley this week wrote to the FOTA teams in a desperate late attempt to end the budget row.
After a four-hour meeting, the FOTA statement continued: "Since the formation of FOTA last September the teams have worked together and sought to engage the FIA and commercial rights holder Bernie Ecclestone, 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.
"But these teams have no alternative other than to commence preparation for a new championship, which reflects the values of its participants and partners.
"The wishes of the majority of the teams are ignored. Furthermore, millions of dollars have been withheld from many teams by the commercial rights holder, going back as far as 2006."
Double world champion and Renault driver Fernando Alonso confirmed this week that he would be open to the idea of a breakaway championship.
BMW's Nick Heidfeld insisted the row is creating a negative attitude towards the sport.