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FOTA disbanded due to non-payment of fees by member teams
FOTA disbanded due to non-payment of fees by member teams 28 February, 2014 The Formula One Team's Association (FOTA) has been disbanded, with the main reason given being the lack of financing for the organisation to continue.
A short statement on their website said: 'As of the 28th of February 2014 FOTA will be disbanded, as a result of its members’ having re-evaluated their requirements in the face of a changing political and commercial landscape in Formula 1.'
FOTA secretary general Oliver Weingarten said, 'I can confirm that FOTA has been disbanded as a result of insufficient funds to continue and a lack of consensus among all the teams on a revised, non-contentious mandate.' The...
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11y ago from GrandPrix247.com
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