Formula One in crisis as Teams Association threatens to break away
Formula One is involved in its biggest crisis yet as the teams in FOTA, the Formula One Teams Association, threaten to break away from the current F1 set up to organise their own race series.
In an announcement made this morning, FOTA has declared that teams “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.
While some may question FOTA’s ability to set up a new series, what is not in doubt is the number of circuits available to them – circuits that have been abandoned by the current F1 organisers looking for big money deals. These include Silverstone, which was scheduled to host its last F1 Grand Prix this weekend.
FOTA currently represents all the big names in F1 including, BMW-Sauber, BrawnGP, Scuderia Ferrari, McLaren-Mercedes, Red Bull Racing, Renault, Scuderia Toro Rosso, Toyota.
Williams and Force India were expelled from FOTA after signing up to the FIA’s 2010 regulations.