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FIA says £40m budget cap going ahead
The FIA says that its plans for a £40 million budget cap will now go ahead unchanged, after the latest talks between the governing body and the Formula One Teams' Association (FOTA) to try and find a compromise ended without a deal.
Leading financial representatives from both the FIA and FOTA met in London on Monday to try and reach a settlement on next year's rules that would be acceptable to both parties.
There had been some hope that new rules could be put in place after preliminary agreement was reached between FIA president Max Mosley and several representatives of FOTA in a meeting last week.
However, the FIA has been left disappointed that this week's meeting achieved nothing, after FOTA's representatives said they could not discuss the rules, and the teams' proposals were rejected as being ineffective.
A statement issued by the FIA on Tuesday said: "As agreed at the meeting of 11 June, FIA financial experts met yesterday with financial experts from FOTA.
"Unfortunately, the FOTA representatives announced that they had no mandate to discuss the FIA's 2010 financial regulations. Indeed, they were not prepared to discuss regulation at all.
"As a result, the meeting could not achieve its purpose of comparing the FIA's rules with the FOTA proposals with a view to finding a common position.
"In default of a proper dialogue, the FOTA financial proposals were discussed but it became clear that these would not be capable of limiting the expenditure of a team which had the resources to outspend its competitors. Another financial arms race would then be inevitable.
"The FIA Financial Regulations therefore remain as published."
The FIA has become increasingly frustrated with the failure to find a solution to the row, and on Monday it accused factions with FOTA of deliberately trying to scupper a deal.
F1's current teams have been given until Friday to drop the conditions attached to their entries, or risk being left off the grid for 2010.
With part of their conditions being that the 2010 regulations are scrapped, the FIA's latest stance makes it increasingly unlikely that the matter can be resolved before the deadline.
God Bless the Black Top* wrote:frigging egos killing de sport man
F1 teams drop breakaway bombshell
Mosley's stance has angered the majority of F1 teams
Formula One has been thrown into chaos after the Formula One Teams Association (Fota) carried out its threat to set up a rival championship in 2010.
Eight of F1's major teams have been frustrated by deadlocked talks with world motorsport boss Max Mosley over his controversial budget cap proposals.
"The teams have declined to alter their original conditional entries to the 2010 F1 Championship," said the teams.
"We've no alternative than to commence preparation for a new championship."
dmitc wrote:Breaking newsF1 teams drop breakaway bombshell
Mosley's stance has angered the majority of F1 teams
Formula One has been thrown into chaos after the Formula One Teams Association (Fota) carried out its threat to set up a rival championship in 2010.
Eight of F1's major teams have been frustrated by deadlocked talks with world motorsport boss Max Mosley over his controversial budget cap proposals.
"The teams have declined to alter their original conditional entries to the 2010 F1 Championship," said the teams.
"We've no alternative than to commence preparation for a new championship."
http://news.bbc.co.uk/sport2/hi/motorsport/formula_one/8108488.stm
i didn't think this would happen, man 2010 is going to be interesting.
Formula 1's governing body, the FIA, says it will begin legal proceedings over plans to set up a rival world championship next year.
The F1 Teams Association (Fota) said on Thursday that eight of its major teams were planning to set up a rival championship for the 2010 season.
But FIA lawyers say the actions of Fota as a whole and Ferrari, in particular, amount to breaches of law.
They say they will issue legal proceedings without delay.
The statement added: "The actions of Fota as a whole, and Ferrari in particular, amount to serious violations of law including wilful interference with contractual relations, direct breaches of Ferrari's legal obligations and a grave violation of competition law.
"Preparations for the 2010 FIA Formula 1 World Championship continue but publication of the final 2010 entry list will be put on hold while the FIA asserts its legal rights."
Delaying the publication of the entry list gives the parties room for manoeuvre as they search for a compromise over the issue.
The row centres on plans by world motorsport boss Max Mosley to introduce budget cap proposals.
Mosley wants to introduce a voluntary £40m budget cap for teams to curtail a "financial arms race" in F1.
Fota say they, too, are committed to cutting costs, but refused to agree to his conditions.
It prompted championship leader Brawn GP, Ferrari, McLaren, Renault, Toyota, BMW Sauber, Red Bull Racing and Toro Rosso to take their drastic action.
Brawn GP team owner Ross Brawn said that at the moment the relationship between the teams and the FIA was 'difficult'.
"The teams' ambition is not to take over F1, but they have a massive investment in it," he said. "They want their investment protected."
Asked if Mosley going would solve the problem, Brawn said: "It's in no way a condition of the conditional entry the Fota teams have made.
"It's not something the Fota teams are pushing for or asking for. It has not entered discussions."
However, Mosley told the BBC that he was confident there would be one Formula 1 world championship next season.
"We had to take legal proceedings. That's all part of the process, but the moment they come to their senses that will all stop," he said.
"This is posturing and posing and it will stop before the start of 2010 and the first race of next season in Melbourne and settle down.
"They can't get the backing they need and will come back."
Brawn, McLaren team boss Martin Whitmarsh and Red Bull's Christian Horner have refused to comment on the FIA's legal threat saying they had only just been informed of it and had not seen the details.
worksux101 wrote:Still a good chance it wont happen...Bernie will have a field day with Mosely if it does....
Either way...by next year if this continues, Mosely will be gone and all these teams will prolly be back in F1
F1 deal ends threat of breakaway
An agreement has been reached between Formula 1's governing body and the teams to prevent a breakaway series, says FIA president Max Mosley.
The two parties had been engulfed in a bitter row over planned budgetary and technical changes for the 2010 season.
But it appears a resolution has now been found and, as part of the deal, Mosley has agreed not to stand for re-election as president.
"There will be no split. We have agreed to a reduction of costs," added Mosley.
"There will be one F1 championship but the objective is to get back to the spending levels of the early 90s within two years."
F1 supremo Bernie Ecclestone added that he was "very happy common sense has prevailed" following a meeting of 120 members of the FIA in Paris aimed at resolving the crisis.
Ferrari chief president Luca di Montezemolo, head of the Formula One Teams Association (Fota), added: "I think the decisions we have shared this morning are important. We will have the rules of 2009, same rules for everybody.
"It means that we have stability."
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