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Formula 1
Grosser Preis Santander Von Deutschland (Germany)
Circuit: Nurburgring, 3.2 miles
Qualifying: Saturday, 11 July @ 08:00am ET
TV: Speed (Live)
Race: Sunday, 12 July @ 03:00pm ET
TV: Fox

IndyCar
Streets of Toronto
Circuit: Toronto
Race: Sunday, 12 July @ 01:00pm ET
TV: ABC (Live)

The World Motor Sport Council met in Paris today after which the FIA issued a press release that states that the manufacturer teams have agreed to stay faithful to the commercial arrangements for the FIA Formula One World Championship until 2012. They have agreed to renegotiate their contacts; hence there will be no alternative series or championship.

The teams will also reduce the costs of competing in the championship, within two years, to the cost levels of the early 1990s. As part of this agreement, FIA President Max Mosley has decided to not stand for re-election in October. The FIA have also announced the list of teams accepted for the 2010 FIA Formula One World Championship.
 
Scroll down to read the FIA Formula One World Championship Press Release as well as the list of Formula 1 teams for 2010.

Formula One Teams Association (FOTA) announced last week that it is planning to break away from the FIA and start its own racing series as a result of friction between the two organizations.
 
The eight breakaway teams (Ferrari, McLaren, Toyota, Renault, BMW, Brawn, Red Bull and Toro Rosso) met at Renault's England headquarters and brought out a press release soon after, stating that it has been trying to negotiate with the FIA but that its efforts have been futile. FOTA has proposed a voluntary cost reduction plan for the teams, it has also requested for transparency of governance by the FIA and for the Commercial Rights Holder (Bernie Ecclestone) to fix on one set of rules, among other things. Many teams have also said that Ecclestone has withheld tens of millions of dollars, since 2006.Carmelo Ezpeleta, Dorna Sports Comapny, Bernie Ecclestone, Sue
 
In retaliation the FIA has issued a statement stating that it is going to sue the breakaway teams for violations of law and for breaches of contracts. The FIA is particularly upset with Ferrari and has threatened to leave Ferrari out of the 2010 Entry List. This has caused the 2010 Entry List to be stalled and delayed until the FIA and FOTA decide on their next step.

In the mean time, FOTA has started talks with Carmelo Ezpeleta, whose Dorna Sports company is in charge of Moto GP, and who would be capable and experienced in managing a new racing series.
 
For more information about FOTA’s breakaway ideas, scroll down and read their press release.

The annual Isle of Man TT (Tourist Trophy), in Scotland, is nearing its end this weekend with a bang. The Worlds first ever race for clean emission motorcycles, the TTXGP, was won by Team Agni’s Rob Barber in a nippy 25 minutes and 53.3 Seconds. Second place was taken by Thomas Schoenfelder and his team XXL Racing while Mark Buckley riding a Brammo came is third. According the TTXGP site listed below, Team Agni is one of the few teams to have had the most experience with electric race bikes.

A little later in the afternoon the Isle of Man TT’s most imperative race, the Pokerstars Senior TT, took place. A 30 minute delay due to a gentle rain shower did not deter the riders who soon turned it into a fast-paced breath-clenching race where only 29 drivers finished.

Team Honda’s (HM Plant Honda) Steve Plater shot past the chequered flag to win this years Pokerstars Senior TT. Plater’s teammate John McGuinness was leading by almost 19 seconds when he was forced to retire due to a broken chain, leaving Plater to take the lead. McGuinness, however, broke his previous records from a standing start on lap one, while Plater also proceeded to beat his own previous timings.

For more details about the Pokerstars Senior TT click on the link below.

+ iomtt News: Plater wins dramatic Senior TT

For more details on the races visit:
+ TTXGP.com
+ Isle of Man TT: News
 

Formula 1

Turkish Grand Prix
Circuit: Istanbul, 3.3 miles
Qualifying: Saturday, June 5 @ 7am ET
Race: Sunday, June 6 @ 8am ET
TV: Speed (live)

Indycar

Bombadier Learjet 550
Circuit: Texas Motor Speedway
Race: Saturday, June 6 @ 9pm ET
TV: Versus (live)

http://www.theonion.com/content/news_briefs/professional_racing_drivers

The Olsberg Motor Sport Evolution team from Sweden will be driving two Ford Fiestas in this year's Pike’s Peak International Hill Climb on July 19.

Americans eager to catch a glimpse of the Fiesta before it officially hits American soil can watch as the cars attempt to break the 10-minute mark in the annual race, which takes place outside of Colorado Springs, Colorado. The vehicles, which have been modified for rallycross, each have a 2.0-liter Duratec Ford engine putting over 800 horsepower through an all-wheel-drive system.

The consumer version of the Ford Fiesta will launch in the U.S. in 2010.

The Pike’s Peak race dates back to 1916, when a Ford vehicle nicknamed “Tin Lizzy” took the first victory there.

The official press release follows after the jump.

Race fans can look forward to the following events this weekend.

Formula 1

Monaco Grand Prix
Circuit: Monte Carlo
Qualifying: Saturday, May 23 at 8:00am ET
Race: Sunday, May 24 at 8:00am ET
TV: Speed (Live)

IndyCar

Indianapolis 500
Circuit: Indianapolis Motor Speedway
Race: Sunday, May 24 at Noon ET
TV: ABC (Live)

Speed World Challenge

No race this weekend, but World Challenge ACS of Long Beach and New Jersey Grand Prix will be televised on Speed, Friday, May 22 at 2:00pm ET.