3 Dec 2011

Red Bull and Ferrari to leave FOTA

2:01 pm on 3 December 2011

World champions Red Bull and rivals Ferrari will withdraw from the Formula One Teams Association after failure to reach agreement over cost cutting measures.

The decision will leave FOTA, created to represent a united front in negotiations with commercial supremo Bernie Ecclestone and the governing FIA, with just nine of the 12 teams.

Strugglers Hispania pulled out last January, saying it no longer made sense for them to be members, although FOTA said the Spanish-based team had failed to pay their membership dues.

Ferrari said they would work with the other teams to make the cost-cutting Resource Restriction Agreement "more effective and efficient".