“It has become clear, however, 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.”

Yeah, stick to’em FOTA!

And think of a new name for your organisation as well.

I hope they give us more overtaking and lower ticket prices.

via FOTA teams deliver damning statement – Planet-F1 News – from planet-f1.com.