The FIA stated regarding the Formula One Teams Association (FOTA) that it found its attempts to take over F1 regulations and commercial rights as unacceptable.<\/p>\n
With growing tensions between the governing body and FOTA over cost control and the future governance of the sport, the FIA released a lengthy statement to the press on Tuesday to explain its position.<\/p>\n
\u00ab The FIA and FOM have spent decades building the Formula 1 World Championship to make it the most-watched motorsport in the world. \u00bb<\/p>\n
Considering the success of the FIA, the FOTA, composed of members who come and go as they please, has set two goals: Taking charge of the Formula 1 regulations and appropriating the commercial rights for itself. These are not objectives that the FIA can accept.<\/p>\n
The governing body stated that its firm stance on budget cap issues was fueled by lessons learned to reduce the cost of a single-seater and by the fact that manufacturers refused to commit for the long term.<\/p>\n
Mr. [Luca] di Montezemolo promised to provide the necessary guarantees from the major car manufacturing companies (not to be confused with guarantees from the teams).<\/p>\n
\u00ab At the same time, FOTA and Mr. di Montezemolo rejected all attempts to organize meetings to discuss cost reduction. In March, it was clear that FOTA had no intention of facilitating the entry of new teams. \u00bb<\/p>\n
Speaking on the reasons why a budget cap was considered the best way forward, the FIA explained: \u00ab If we want to see innovative technology in Formula 1, the only solution is to limit spending and allow engineers to do their best with a fixed budget. \u00bb<\/p>\n
\u00ab This is exactly what happens in the real world, and it is the only way forward for Formula 1. Without technical innovation, Formula 1 will be destined to die. Without cost constraints, Formula 1 will lose its teams. \u00bb<\/p>\n","protected":false},"excerpt":{"rendered":"
The FIA stated regarding the Formula One Teams Association (FOTA) that it found its attempts to take over F1 regulations and commercial rights as unacceptable. With growing tensions between the governing body and FOTA over cost control and the future governance of the sport, the FIA released a lengthy statement to the press on Tuesday […]<\/p>\n","protected":false},"author":5,"featured_media":42803,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1,1749],"tags":[370,390],"class_list":["post-24244","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-f1","category-news","tag-fia","tag-fota"],"acf":[],"yoast_head":"\n