Tuesday, June 23, 2009

Official: FOTA Announce Breakaway Series for 2010

In the dead of Thursday night in England, the eight FOTA teams decided to issue a statement announcing that a breakaway world championship will be formed.

The announcement came on the eve of the FIA's Friday deadline for making unconditional entries for the official formula one series, and amid the sides' deadlocked negotiations about income, governance and rules.

"The FIA and the commercial rights holder have campaigned to divide FOTA," the statement read. "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."

The statement was issued on behalf of BMW, Brawn, Ferrari, McLaren, Renault, Toyota and the two Red Bull teams.

"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," said the formula one teams association.

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