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.
