GJ Mosley/Ecclestone, you idiots.
Teams Leaving: Brawn GP, Ferrari, McLaren, Renault, Toyota, BMW Sauber, Red Bull Racing and Toro Rosso
Teams Staying: Williams and Force India
Quote:Formula One has been thrown into chaos after the Formula One Teams Association (Fota) carried out its threat to set up a rival championship in 2010.
Eight of F1's major teams have been frustrated by deadlocked talks with world motorsport boss Max Mosley over his controversial budget cap proposals.
Fota added that its championship would put F1 fans first and boast the best drivers and sponsors.
"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," added the statement.
"The major drivers, stars, brands, sponsors, promoters and companies historically associated with the highest level of motorsport will all feature in this new series."
Teams Leaving: Brawn GP, Ferrari, McLaren, Renault, Toyota, BMW Sauber, Red Bull Racing and Toro Rosso
Teams Staying: Williams and Force India
