The budget cap that will be implemented by the FIA in the 2010 Formula One series has caused eight F1 teams to set up their own series. FIA is not concerned, it said in a statement. The statement further said that FIA cannot allow the series to become a financial race, nor can it permit FOTA to decide the rules of Formula One.
FIA is giving the five FOTA teams until Friday to unconditionally sign up for next year’s season and the final list of entries to be published the following day, Saturday. Because of prior agreements Red Bull and Ferrari teams will be included o the entry list against their desires. FIA said it is disappointed with FOTA, particularly in its inability to reach an amicable agreement for the sake of the sport. The Formula One ruling body suspects that there are elements within FOTA that has planned beforehand for this outcome throughout the negotiation process.
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