Ferrari and Red Bull have withdrawn from the Formula One Teams Association amid an ongoing row over cost-cutting.
Ferrari and Red Bull quit Formula One Teams Association
Ferrari and Red Bull have withdrawn from the Formula One Teams Association amid an ongoing row over how to reduce costs in the sport.
The teams - two of the most high-profile names in the sport - have given notice of their intention to leave the group, with the Italian marque claiming "FOTA's drive has run its course".
Both Ferrari and Red Bull have criticised FOTA's failure to find agreement among the teams on the sport's Resource Restriction Agreement (RRA), which aims to cap the costs of competing in F1.
"I can confirm this is the case," a FOTA spokeswoman said of the two teams quitting.
"We are trying to arrange a meeting to sit the teams around the table and see where this takes us."
Ferrari confirmed that they are one of the two teams and outlined their reasons for withdrawing from FOTA in a statement.
Leaving
"Ferrari has informed FOTA President Martin Whitmarsh that it is leaving the organisation made up of the teams competing in the Formula One World Championship," read the statement on their official website.
"It was a difficult decision and a great deal of thought went into it. It was taken reluctantly after analysing the current situation and the stalemate when it came to debate on some issues that were at the core of why the association was formed.
"Ferrari was on the front line in this area (cost-cutting) even before the birth of FOTA and it intends to continue down this route to ensure the sustainability of the sport in the long term.
"Now, however, it is necessary to find some new impetus to move it along because FOTA's drive has run its course, despite the excellent work of current President Martin Whitmarsh in trying to reach agreement between the various positions for the common good."
The statement added: "Ferrari will continue to work with the other teams to make the current RRA, Resource Restriction Agreement, aimed at controlling costs, more effective and efficient, modifying it to make it more stringent in key areas such as aerodynamics, to rebalance some aspects such as testing and to expand it to areas currently not covered, such as engines.
Delicate
"Formula One, like the rest of the world in fact, is currently going through a delicate period. Ferrari wants to work with all parties for the future of a sport that expresses the highest level of motor sport technology."
Red Bull later also issued a statement confirming that they would be withdrawing.
The statement read: "Red Bull Racing can confirm it has served notice to withdraw from FOTA. The team will remain committed to finding a solution regarding cost saving in Formula One."
FOTA formerly represented 11 of the 12 teams on the F1 grid, with only backmarkers Hispania Racing not tallied to it, but has been gripped by internal rows over the RRA.
Recent talks between team principals at the season-ending Brazilian Grand Prix failed to reach an agreement over a way forward.
