Brawn GP united with FOTA in decision to form breakaway series.

Last night (Thursday) the FOTA met once again to discuss the future of their teams in F1, as a collective they have decided to withdraw their entries for the 2010 F1 season and form their own breakaway series. The full statement is as follows:

"Since the formation of FOTA last September the teams have worked together and sought to engage the FIA and commercial rights holder, to develop and improve the sport.

"Unprecedented worldwide financial turmoil has inevitably placed great challenges before the F1 community. FOTA is proud that it has achieved the most substantial measures to reduce costs in the history of our sport.

"In particular the manufacturer teams have provided assistance to the independent teams, a number of which would probably not be in the sport today without the FOTA initiatives. The FOTA teams have further agreed upon a substantial voluntary cost reduction that provides a sustainable model for the future.

"Following these efforts all the teams have confirmed to the FIA and the commercial rights holder that they are willing to commit until the end of 2012.

"The FIA and the commercial rights holder have campaigned to divide FOTA.

"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, that 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.

"These teams therefore have no alternative other than to commence the preparation for a new Championship which reflects the values of its participants and partners. This series will have transparent governance, one set of regulations, encourage more entrants and listen to the wishes of the fans, including offering lower prices for spectators worldwide, partners and other important stakeholders.

"The major drivers, stars, brands, sponsors, promoters and companies historically associated with the highest level of motorsport will all feature in this new series."

Statement issued by FOTA on behalf of BMW Sauber, Brawn GP, Scuderia Ferrari, McLaren-Mercedes, Red Bull Racing, Scuderia Toro Rosso, Toyota

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Brawn GP lodge 2010 F1 entry in unison with FOTA

Brawn GP like the rest of FOTA have submitted their entry to Formula One for 2010 season. They did however put some coniditions in with their submission, which are highlighted as follows:

"The renewal of the Concorde Agreement will provide security for the future of the sport by binding all parties in a formal relationship that will ensure stability via sound governance," said FOTA in a statement.

The teams' body also said that the entries were conditional on the regulations being based on 2009 rules, "identical for all competitors and amended in accordance with proposals that FOTA has submitted to the FIA."

"All FOTA teams' entries for the 2010 FIA Formula One World Championship have been submitted today on the understanding that (a) all FOTA teams will be permitted to compete during the 2010 Formula One season on an identical regulatory basis and (b) that they may only be accepted as a whole," added the statement.

"All FOTA teams now look forward with optimism to collaborating proactively and productively with the FIA, with a view to establishing a solid foundation on which the future of a healthy and successful Formula One can be built, providing lasting stability and sound governance."

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