F1 teams drop breakaway bombshell
Formula One has been thrown into chaos after the Formula One Teams
Association (Fota) carried out its threat to set up a rival
championship in 2010.
Eight of F1's major
teams have been frustrated by deadlocked talks with world motorsport
boss Max Mosley over his controversial budget cap proposals.
"The teams have declined to alter their original conditional entries to the 2010 F1 Championship," said the teams.
"We've no alternative than to commence preparation for a new championship."
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 championship
leader Brawn GP, Ferrari, McLaren, Renault, Toyota, BMW Sauber, Red
Bull Racing and Toro Rosso to take their drastic action.
They announced their decision following a four-hour
meeting on Thursday night ahead of this weekend's British Grand Prix at
Silverstone.
"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," read a Fota
statement.
"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 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
Fota statement
"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."
Fota added that its championship would put F1 fans first and boast the best drivers and sponsors.
"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."
Former champions Williams and Force India have
already committed unconditionally to the FIA's world championship along
with three new entrants - Campos, US F1 and Manor.
The FIA has said there are other would-be newcomers
waiting to take the places of those teams that refused to enter
unconditionally, although one, Lola, has already withdrawn its
application.
The stage is also set for a legal battle, with the
FIA saying champions Ferrari and the two Red Bull teams have existing
contracts which commit them to the existing championship.
The FIA had set a Friday deadline for five teams -
Brawn, BMW-Sauber, McLaren, Renault and Toyota - to convert their
provisional entries into unconditional ones or risk being excluded.
There was no immediate comment from the FIA or Ecclestone.
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