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FOTA on verge of collapse

Saturday 15th February 2014

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FOTA on verge of collapse

FOTA on verge of collapse

The Formula One Teams' Association could collapse before "the end of the month", according to a report in the British press.

Formed in 2008, FOTA's initiative was to put the teams' interests first, speaking as one voice.

However, as the years have gone by, FOTA's influence has lessened to the point that it only comprises seven teams after the likes of Ferrari and Red Bull withdrew.

According to the Telegrah, FOTA "faces unpaid subscription fees, deadlock among the 11 teams about its purpose, and the loss of its chairman and principal cheerleader.

"Sources at FOTA said it is suffering "substantial" financial problems, and had until the end of the month to determine whether the body has a future."

FOTA's general secretary, Oliver Weingarten, told the newspaper: "I can confirm that the teams have met in discussion as to how to potentially restructure the association and continue and further the engagement with the non-members, who have benefited from FOTA activities over the last 12 months."

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