After meeting, eight F1 teams (Ferrari, McLaren, Toyota, Renault, BMW, Brawn, Red Bull and Toro Roso) announced that there was no way out with FIA, so it would proceed without FIA.

Here is bit of FOTA release state:
"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."



This release is goes on to address to F1 "commercial rights holder", which is Bernie Ecclestone. If they mean with their statement, a more stable and less expensive F1 would be victory for teams and fans. Circuit owner would also profit , since they pay Ecclestone more than ten millions pounds to hold F1 race, and that's the money the teams want a bigger share of.

Many observers have said the teams won't set up another championship because they are too focused on selling cars. But FOTA has spoken to Carmelo Ezpeleta, Dorna Sport owner who has experience running MotoGP from FIM.

If FOTA and their supporters are continuing to run F1 race rival F1 championship, which series will get your attention next year?