Formula None! The End?

Ramkumar SCorrespondent IJune 19, 2009

MONTE CARLO, MONACO - MAY 23:  Lewis Hamilton of Great Britain and McLaren Mercedes walks back to the pits after crashing during qualifying for the Monaco Formula One Grand Prix at the Monte Carlo Circuit on May 23, 2009 in Monte Carlo, Monaco.  (Photo by Clive Mason/Getty Images)

"The teams have declined to alter their original conditional entries to the 2010 F1 Championship, We've no alternative than to commence preparation for a new championship." .

Those were the words of FOTA who have now confirmed that they will not be taking part in the Formula 1 races from 2010 and onwards. No more Ferrari, McLaren, Renault, BMW Sauber, Toyota, Brawn GP, Red Bull Racing and Toro Rosso. Simply put there will be no more Formula One.

The teams have been patient with with Mad Max and his mysterious ways but when he decided to introduce  the "voluntary 40 million dollar budget cap" He really had pushed too far. Teams that did abide by the 40 million dollar budget rules had one set of rules while teams that could not keep their costs below that would play by another set of rules. It is this disparity in rules that most teams were against. The FOTA tried to rationalize with Maxley but sadly it was fruitless.

The FOTA's statement reads:

"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.

"Despite this, and the uncompromising environment, FOTA has genuinely sought compromise.

"It has become clear, however, 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."

The FIA's response was as follows  "We are disappointed but not surprised by Fota's inability to reach a compromise in the best interests of the sport.". Yeah, right.

But, there is still good news in the world of Formula 1 folks - Force India now has a realistic chance of winning the Formula 1 title. Yay!