Tag Archives: a-budget-cap

Formula One dispute set for court battle

Motorsport governing body, the Federation Internationale de l’Automobile (FIA), plan to sue Ferrari and the seven other Formula One teams threatening to set up a breakaway championship next season, for breach of contract. Following meetings between FIA president Max Mosley and F1 supremo Bernie Ecclestone at Silverstone on Friday, the FIA has now decided legal action is their only recourse. Confirming their intentions, a statement read: “The FIA’s lawyers have now examined the threat by the eight-member Formula One Teams Association (FOTA) to begin a breakaway series.

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Formula One teams announce rival championship

Eight Formula One teams said Thursday they would create a breakaway series championship following a financial dispute with the world governing body over a proposed budget cap for next season. All eight teams are members of the Formula One Teams Association (FOTA), which made the announcement in a press release. The current wrangles stem from controversial plans by the Federation Internationale de l’Automobile to impose a budget cap of $60M for competing teams and technical limitations on teams in 2010 in a bid to make the grid more balanced and easier for the smaller teams to compete successfully

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Ferrari dismiss 2010 F1 inclusion

Ferrari have restated their intentions to boycott the 2010 Formula One Championship because of a disagreement about the future of the sport, despite being included by the sport’s world governing body on a list of official participants for the next season. The Federation Internationale de l’Automobile (FIA) announced on their Web site that successful applications had been received and accepted by 13 teams, including the Italian racers, for next season’s competition

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Report: Court rules against Ferrari in F1 dispute

Ferrari have failed in their bid to obtain an injunction against the International Automobile Federation (FIA) and their decision to introduce a budget cap into Formula One from next season. Following a one-hour hearing at the Tribunal de Grande Justice in Paris, judges sided with FIA president Max Mosley’s organization, the British Press Association reported Wednesday

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