F1 In Chaos

19 June 2009

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Formula One on the edge of collapse

News that eight of the top ten F1 teams have decieded to break away has thrown Formula 1 into chaos.

The teams including Brawn GP, Ferrari, McLaren, Renault, Toyota, BMW Sauber, Red Bull Racing and Toro Rosso have said they will form the rival championship as soon as the 2010 season.

The threat by members of the F1 Teams Association (Fota) escalated Fota's row with world motorsport boss Max Mosley over his budget cap proposals. Mosley was insistent on introducing a voluntary £40m budget cap for teams to curtail a "financial arms race" in F1, but Fota refused to agree to his conditions, prompting the eight teams to take their drastic action.

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.

The two teams that are not breaking away are Williams and Force India, both are suspended from FOTA and not part of the breakaway plan, both teams though had submitted conditional applications but the FIA had told them they would have to withdraw the conditions or risk being kicked out of the championship..

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, but following a four hour meeting the response was given in the following statement was issued bt Fota:

It has become clear, however, 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 championshipFota statement

"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," said an official announcement on behalf of Fota.

"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, 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."

"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," added the statement.

"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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