Formula 1 disintegrates as eight teams break away from competition
The die was cast, and Formula 1 has entered a quantum of chaos after eight of its leading teams announced that they will quit the competition and set up their own championship in 2010, rather than cave in to the demands of governing body, FIA, the BBC said.
The impending threat delivered by members of F1 Teams Association (Fota) entered a completely new dimension with Max Mosley over his budget cap proposals.
The "Renegade League" are Ferrari, McLaren, Renault, Toyota, BMW Sauber, Brawn GP, Red Bull Racing and Toro Rosso who have officially said that they will not, repeat, not enter the Formula One format in 2010. After weeks of dangling and wrangling, the eight Renegades have failed to reach a compromise with FIA president Mosley over plans for a 40 million pounds sterling budget cap.
The disintegration of Formula 1 as we know it has happened ahead of the iconic British Grand Prix, at Silverstone on Sunday, June 21.
"The teams have declined to alter their original conditional entries to the 2010 F1 Championship," said the teams collectively, as reported by Sky Sports.
"We've no alternative than to commence preparation for a new championship."
Mosley is adamant about introducing the 'voluntary' 40 million budget cap for teams to curtail a "financial arms race" in the sport which he believes will only harm the sport and fans in the midst of a global economic downturn. .
Meanwhile, Fota told Sky Sports that it was doing everything possible to hammer out a resolution with FIA and Bernie Ecclestone, who holds the commercial rights to F1, to "develop and improve the sport" after its formation last September.
But it added in a statement: "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 BBC reported.
Concurrently, a legal battle is certain to ensue with FIA insisting that current champions Ferrari and Red Bull have existing obligations which commit them to the existing format of the championship.
The impending threat delivered by members of F1 Teams Association (Fota) entered a completely new dimension with Max Mosley over his budget cap proposals.
The "Renegade League" are Ferrari, McLaren, Renault, Toyota, BMW Sauber, Brawn GP, Red Bull Racing and Toro Rosso who have officially said that they will not, repeat, not enter the Formula One format in 2010. After weeks of dangling and wrangling, the eight Renegades have failed to reach a compromise with FIA president Mosley over plans for a 40 million pounds sterling budget cap.
The disintegration of Formula 1 as we know it has happened ahead of the iconic British Grand Prix, at Silverstone on Sunday, June 21.
"The teams have declined to alter their original conditional entries to the 2010 F1 Championship," said the teams collectively, as reported by Sky Sports.
"We've no alternative than to commence preparation for a new championship."
Mosley is adamant about introducing the 'voluntary' 40 million budget cap for teams to curtail a "financial arms race" in the sport which he believes will only harm the sport and fans in the midst of a global economic downturn. .
Meanwhile, Fota told Sky Sports that it was doing everything possible to hammer out a resolution with FIA and Bernie Ecclestone, who holds the commercial rights to F1, to "develop and improve the sport" after its formation last September.
But it added in a statement: "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 BBC reported.
Concurrently, a legal battle is certain to ensue with FIA insisting that current champions Ferrari and Red Bull have existing obligations which commit them to the existing format of the championship.