8 F1 teams announce breakaway championship
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Ferrari, McLaren, BMW, Renault, Toyota, Brawn, Red Bull Racing and sister team Toro Rosso announced last night on the eve of the British Grand Prix that they will launch a rival series to Formula 1.
These teams, which form the Formula One Teams Association (FOTA), and the FIA failed to come to an agreement after weeks of tense negotiations. FOTA did not agree to a universal GBP40m budget cap and had wanted a gradually-lowered limit, and were aggrieved that other cost-cutting suggestions were snubbed and that monies owed since 2006 had not been paid up.
FOTA's teams submitted conditional entries before the deadline for 2010 applications passed at the end of May. Prior to that, former FOTA members Williams and Force India submitted full entries and were ejected from the association. The FIA published Ferrari and the Red Bull teams as full entries on the basis of 2005 contracts that bound them to participate until 2012, and the others were given until today to drop their conditions.
The new championship promises cheaper tickets, returns to exciting race venues, technical assistance to new teams and the retention of most of the drivers on the current grid. For full articles, click here and here.
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btw
will it affect the F1 in Sg?
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interesting.
its like G14 from football making their own league when they get fed up with UEFA
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Originally posted by noahnoah:
btw
will it affect the F1 in Sg?
Of course, this year will be the last one where you'll see those 8 teams and their drivers, unless the new championship includes Singapore. Our contract with Formula 1 runs until 2012.
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Originally posted by noahnoah:
btw
will it affect the F1 in Sg?
Nah, not really. In 2010 you'll see Williams beating Force India, a bunch of Formula Ford 1600s and a Russian pizza boy in a Trabant.
Oh, and the race will start at 3 am to make it European dinner viewing.
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The FIA have begun legal proceedings against FOTA and Ferrari in particular, citing breaches of contractual obligations and competition laws. Ferrari will only reiterate that it has already gone to the courts to argue that the contract is now void.
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u guys
really think that
the singtel thing will lower price meh
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Originally posted by gigabyte14:
u guys
really think that
the singtel thing will lower price meh
It won't happen, unless FOM takes a smaller cut from the ticket sales and the SGP people pass the savings on.