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Formula One Teams' Association collapses
The group which acts on behalf of Formula One teams was disbanded Friday because of financial issues, likely giving more control of the sport's future to Bernie Ecclestone. The Formula One Teams' Association was established six years ago to safeguard interests at the onset of the global financial crisis, and ensure the teams were unified in negotiations with Ecclestone and governing body FIA. But FOTA began to fracture in 2011 when leading teams, including Ferrari and Red Bull, quit in a dispute about cost reduction moves within motor racing's premier sport. Now FOTA has collapsed completely over unpaid subscription fees and a failure to strike an agreement with all 11 teams after only...
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