FIA panel meets amid threat of Formula One breakaway series over $65M budget cap dispute
By APWednesday, June 24, 2009
FIA panel meet amid threat of F1 breakaway series
PARIS — Motor sport’s ruling body opened what could be an acrimonious meeting at its Paris headquarters on Wednesday, nearly a week after Formula One teams announced plans to set up a rival series.
The dispute between the Formula One Teams Association — representing eight of the current 10 F1 teams — and the FIA centers on the teams’ objection to the ruling body’s planned introduction of a budget cap for the 2010 season.
The World Motor Sport Council — the highest-ranking body within the FIA — began its gathering Wednesday with few members speaking to reporters on the way in.
FIA and WMSC president Max Mosley suggested Tuesday that he might yet seek a new term as head of the FIA, having previously said he would step down.
Mosley told federation members in a letter that the FIA was preparing legal action, if necessary, against the breakaway by FOTA teams: Ferrari, McLaren, BMW Sauber, Renault, Toyota, Red Bull, Toro Rosso and Brawn GP. On Sunday, Mosley said the FIA had put legal action on hold in the hopes of reconciliation.
Mosley says the proposed $65 million budget cap for 2010 is essential for the survival of existing teams and to encourage new entrants.
Mosley has been the president of the FIA, the international automobile federation which governs Formula One racing, since 1993.
