F1 has moved a step closer to splitting in two as the eight Formula 1 Teams Association members have announced they are to form their own racing series.
A statement issued by FOTA on behalf of BMW-Sauber, Brawn GP, Scuderia Ferrari, McLaren, Red Bull, Renault, Toro Rosso and Toyota announced their plans.
This leaves next year’s Formula 1 championship with only five confirmed teams: Williams, Force India, Manor, USF1 and Campos. However the FIA is understood to have several other teams ‘in reserve’ to fill up the grid. These may include the likes of Prodrive and Epsilon Euskadi, but not Lola who withdrew their 2010 application earlier this week.
Formula 1 splitting into two is the worst possible outcome of the FIA-FOTA negotiations which have dragged on for months. If this split comes to pass it will likely deal a devastating blow not just to F1, but the wider motor racing world.
We now face the prospect of a divided world championship in 2010, with neither of the two resulting series enjoying the strength that Formula 1 has accumulated in its 60-year history. At a time of such economic turmoil, it is a desperate course of action to take.
FOTA press release
Since the formation of FOTA last September the teams have worked together and sought to engage the FIA and commercial rights holder, 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. 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, that 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. 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.
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. The major drivers, stars, brands, sponsors, promoters and companies historically associated with the highest level of motorsport will all feature in this new series.