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Fota to form breakaway F1 championship

The threat of next season's F1 championship being without some of it's most important teams is likely to be realised, after the Formula One Teams Association (Fota) confirmed that it is going to form a breakaway championship.

Fota released a statement to the press that criticised Bernie Ecclestone, and said that will not sign up unconditionally for next year, which means eight teams – Ferrari, McLaren, Renault, BMW Sauber, Toyota, Brawn GP, Red Bull Racing and Toro Rosso – will soon be driving outside of the FIA tournament.

'Since the formation of Fota last September the teams have worked together and sought to engage the FIA and the commercial rights holder [Ecclestone], to develop and improve the sport. Unprecedented worldwide financial turmoil has inevitably placed great challenges before the Formula One community. Fota are proud they have achieved the most substantial measures to reduce costs in the history of our sport.

'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.' The FIA responded with a release of their own, refusing to budge.

'The FIA cannot permit a financial arms race in the championship nor can the FIA allow Fota to dictate the rules of Formula One. The deadline for unconditional entries to the 2010 FIA Formula World Championship will expire this evening. The 2010 FIA Formula One World Championship entry list will be announced tomorrow.

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