(Photo by Clive Mason/Getty Images)
The Formula One Teams Association has announced that it will be starting a breakaway series from the Formula One World Championship for the 2010 season, as reported by Jonathon Noble of Autosport.com.
With the Friday deadline set by the FIA for unconditional entries to the F1 World Championship approaching, the eight FOTA teams met for several hours at the headquarters of the Renault F1 team.
The meeting resulted in the monumental breakaway decision, with a FOTA statement citing unacceptable terms set by FIA president Max Mosley for the teams' 2010 entries, and dissatisfaction with Mosley's unwillingness to compromise on contentious issues such as the proposed $60 million budget cap.
Although Mosley reportedly submitted a last minute letter to the FOTA teams offering some concessions, the FOTA statement cited attempts by Mosley and commercial rights holder Bernie Ecclestone to divide FOTA, the withholding of money from the teams, and perceived ignorance of the wishes of the teams as the basis for the breakaway.
However, a sticking point may come in the form of the 2010 entries of Scuderia Ferrari, Red Bull Racing, and Scuderia Toro Rosso, all three of which were unconditionally entered into the 2010 F1 World Championship by the FIA. And, all of which, according to Mosley, are contracted to race in F1 through at least 2010.
Breaking Story: More details to come.
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