Ch3tan
I aer teh win!!
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BBC SPORT | Motorsport | Formula 1 | F1 teams to set up rival series
Mosley was insistent on introducing a voluntary $60m budget cap for teams to curtail a "financial arms race" in F1.
But Fota refused to agree to his conditions, prompting championship leader Brawn GP, Ferrari, McLaren, Renault, Toyota, BMW Sauber, Red Bull Racing and Toro Rosso to take their drastic decision.
Only Williams and Force India have agreed to take part in the current F1 championship next year.
Mosley was insistent on introducing a voluntary $60m budget cap for teams to curtail a "financial arms race" in F1.
But Fota refused to agree to his conditions, prompting championship leader Brawn GP, Ferrari, McLaren, Renault, Toyota, BMW Sauber, Red Bull Racing and Toro Rosso to take their drastic decision.
Only Williams and Force India have agreed to take part in the current F1 championship next year.