Formula One turns into pieces; its over!

By - is now official and Formula One is broken! Eight F1 teams, Ferrari, McLaren, Toyota, Renault, BMW, GP Brawn, Red Bull and Toro Rosso decided that there was no way to continue with the FIA, therefore they will proceed without FIA. A full statement was released: “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.”

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