Publications
Partners
London, England - Red Bull and rivals Ferrari are to withdraw from the Formula One Teams' Association because they have failed to reach agreement over cost-cutting measures.
A Ferrari statement said "the organisation's drive has run its course".
'NOTICE SERVED'
Fota was created to present a united front in negotiations with commercial supremo Bernie Ecclestone and the governing International Automobile Federation. It will now represent only nine of the 12 teams.
Low-level team Hispania pulled out in January 2011 because it no longer made sense for them to be members but Fota said the Spanish team had failed to pay it membership dues.
2010 and 2011 World champion team Red Bull announced: "We can confirm we have served notice to withdraw from Fota". However, the team would remain committed to cost-saving in F1.
Ferrari, whose president Luca di Montezemolo was Fota's first president, said: "Ferrari has informed Fota president Martin Whitmarsh that it is leaving the organisation."
The automaker said the decision was "taken reluctantly after analysing the current situation and the stalemated debate on some issues at the core of why the association was formed". "Fota's drive has run its course, despite the excellent work of... Whitmarsh in trying to reach agreement between the various positions for the common good."
Ferrari said it would work with the other teams to make the cost-cutting resource restriction agreement "more effective and efficient".
A Ferrari statement said "the organisation's drive has run its course".
'NOTICE SERVED'
Fota was created to present a united front in negotiations with commercial supremo Bernie Ecclestone and the governing International Automobile Federation. It will now represent only nine of the 12 teams.
Low-level team Hispania pulled out in January 2011 because it no longer made sense for them to be members but Fota said the Spanish team had failed to pay it membership dues.
2010 and 2011 World champion team Red Bull announced: "We can confirm we have served notice to withdraw from Fota". However, the team would remain committed to cost-saving in F1.
Ferrari, whose president Luca di Montezemolo was Fota's first president, said: "Ferrari has informed Fota president Martin Whitmarsh that it is leaving the organisation."
The automaker said the decision was "taken reluctantly after analysing the current situation and the stalemated debate on some issues at the core of why the association was formed". "Fota's drive has run its course, despite the excellent work of... Whitmarsh in trying to reach agreement between the various positions for the common good."
Ferrari said it would work with the other teams to make the cost-cutting resource restriction agreement "more effective and efficient".