After numerous threats towards the FIA, and negotiations with the FIA on the new budget restrictions for 2010, the Formula 1 Teams Association (FOTA) have decided to take its member teams (which account for all but 2 teams currently competing in F1; Williams and Force India) and form their own series.
All the FOTA teams met at the Renault headquarters in Enstone, UK and discussed their dissappointement with the FIA’s regulations and its ‘stance against the organization’.
“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,” said a statement issued by FOTA after the meeting.
As posted earlier, all the FOTA teams had entered, provisionally for the 2010 F1 campaign, knowing that the breakaway could happen at any time. Max Mosely urged the FOTA teams to not form the breakaway series, but the FIA would not change their regulations on the budget cap for 2010, the teams’ determined today that they could not agree to the new terms or compromise.