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	<title>Ali Allage (SPT) - Online Marketer, Serial Entrepreneur, Writer, Automotive Enthusiast, Web Developer &#187; Formula One Teams Association</title>
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		<title>Formula One Teams Association (FOTA) Announces Breakaway Series</title>
		<link>http://www.aliallage.com/news-and-press-releases/formula-one-teams-association-fota-announces-breakaway-series/</link>
		<comments>http://www.aliallage.com/news-and-press-releases/formula-one-teams-association-fota-announces-breakaway-series/#comments</comments>
		<pubDate>Fri, 19 Jun 2009 14:21:35 +0000</pubDate>
		<dc:creator>Ali</dc:creator>
				<category><![CDATA[News and Press Releases]]></category>
		<category><![CDATA[F1 Breakaway series]]></category>
		<category><![CDATA[FIA]]></category>
		<category><![CDATA[Formula One Teams Association]]></category>
		<category><![CDATA[FOTA]]></category>
		<category><![CDATA[New F1 Series]]></category>

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		<description><![CDATA[Eight current teams have released a statement revealing that they are to leave Formula 1 at the end of this season. Members of the Formula One Teams Association (FOTA) sent out the message following a meeting on Thursday, stating that all current teams apart from Williams and Force India will leave F1 at the end of 2009.

With FOTA having been involved in a dispute with F1 governing body the FIA since the latter announced a €45m budget cap for next season, FIA president Max Mosley released one final proposal on Wednesday which described how, although a budget cap would remain, he was fully prepared to reach a compromise with FOTA. On top of this, the FIA also released letters this week stating that a number of current FOTA representatives, before the group was formed, agreed to the idea of a budget cap in January of 2008. <a href="http://www.aliallage.com/news-and-press-releases/formula-one-teams-association-fota-announces-breakaway-series/">[Read More...]</a>]]></description>
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