Members of the Formula One Teams Association, made up of most of the sport's top manufacturers, announced Thursday they would create their own racing series. The group consists of eight teams, including the powerful Ferrari and McLaren organizations.
The race teams have complained that they could not work within the guidelines designed for the 2010 season -- chiefly, a newly imposed spending limit.
"The teams have no alternative other than to commence the preparation for a new championship, which reflects the values of its participants and partners," the eight organizations said in a joint statement.
2010 Ford Taurus and Taurus SHO Photo Gallery
Read Article