So in a "not surprising" move the 2010 class of Formula One Teams have ratified the Concorde Agreement, guaranteeing their allegiance to the Dark Side, I mean the FIA through 2012. As part of the agreement the teams have agreed to voluntary cost reductions that will bring spending to "early 1990's" levels. Sure tyranny is bad, except when your sleeping with the tyrant.
Statement from FOTA follows:
"Signed by all Formula One teams, with the only exception of BMW Sauber AG, the FIA, and Formula One Administration (FOA), Concorde 2009 lays down the commercial and regulatory guidelines for Formula One whilst guaranteeing the teams’ until the end of the 2012 season.
"FOTA will support any initiative which would allow BMW Sauber AG to reapply for full participation within the new Concorde Agreement.
"All Formula One teams have together reached a voluntary agreement on their own, which will put into practice FOTA’s long-standing objective gradually to reduce overall spending, eventually to around the levels of the early 1990s.
"The terms of Concorde 2009 will reinvigorate the role of the Formula One Commission, and various other Working Groups. The Formula One Commission will henceforth be a key decision-making body for change in Formula One.
"FOTA’s attention will now turn to other issues we believe to be in the long-term interest of F1: racing at the best tracks, in front of the biggest audiences and expanding F1’s reach."
"FOTA will support any initiative which would allow BMW Sauber AG to reapply for full participation within the new Concorde Agreement.
"All Formula One teams have together reached a voluntary agreement on their own, which will put into practice FOTA’s long-standing objective gradually to reduce overall spending, eventually to around the levels of the early 1990s.
"The terms of Concorde 2009 will reinvigorate the role of the Formula One Commission, and various other Working Groups. The Formula One Commission will henceforth be a key decision-making body for change in Formula One.
"FOTA’s attention will now turn to other issues we believe to be in the long-term interest of F1: racing at the best tracks, in front of the biggest audiences and expanding F1’s reach."
In the interest of providing "fair and balanced" coverage I thought that you might enjoy this homage to the FIA/FOTA battle courtesy of Theratterdot com. Enjoy!
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