Rome: Ferrari and Red Bull are pulling out of the Formula One (F1) Teams Association, saying the body is no longer effective in dealing with key issues such as reducing costs in the sport.
Ferrari said on their website on Friday that they informed FOTA president Martin Whitmarsh about the decision, which they said was made "reluctantly" and was caused by a "stalemate" among the teams on how to move ahead on several issues.
Red Bull then issued their own statement saying they was pulling out as well.
Like Ferrari, Red Bull, the reigning constructors' champion, have been disappointed by FOTA's failure to bring teams together over cost-cutting strategies, but said they will "remain committed to finding a solution regarding cost-saving in Formula One."
Last season, FOTA represented 11 of the 12 teams on the F1 grid, with Hispania Racing the only one not in the organisation.
Comments
0 comment