Numerous sites have posted last night that FOTA have announced they will be starting a new series with 8 of the current F1 teams, The majority of the drivers and cheaper ticket prices to races.

Heard last week that the group that manages MOTOGP was likely going to be the series promoter.

Could be interesting!!!

Goodbye Mad Max and Egotistical Ecclestone

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Stoner & Webber 2011 World Champions

Just heard this too, not sure if it will happen or not though.
I have a feeling everything will be worked out with FIA and the show will go on as normal next year, FOTA are just doing this to show how serious they are......watch this space.

http://www.autosport.com/news/report.php/id/76292

It will happen - the manufacturers have more then enough money to set this all up.

Bring on the revoultion!

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I am only an asshole on the internet :)

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this has been a long simmering 2-3 year long feud, and it looks like finally the manufacturers have had enough.

Good riddance to Bernie and Max if thats the case. They have made enough dosh scrapping 50% of revenues every year.

http://www.grandprix.com/ns/ns21569.html

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[S]kid[S]

We will know tomorrow for sure what will be happening as today (Fri 19th) is the deadline to sign contracts.

Will hold judgement till then.

What you think they announced this, then are all going to fold and sign over night?

LOL.

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I am only an asshole on the internet :)

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Pretty Much.

They have effectively given Max an olive branch to work with. Put the ball back in his court. Any annalergies you want to use.

Max and Bernie back down. No doubt there would have to be some grovelling / sporting council membership / increased money from rights etc.

The last thing that the teams need to be involved in at thus time is running their own race series.

The only thing I will say in your defence though is that Max / Bernie have effectively backed themselves into a corner. The last thing they would want is a 2 tier grid but if they back down and let Ferrari / RBR et al run then no doubt some of the new teams would drop out. It really is a lose lose for the FIA.

My 2c

Brendon

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Losing is worse than death. You have to live with losing....

the two tier grid is no longer an issue, the issue is the cap, Max's unilaterlal governing of the sport and the split of revenues. If Max and Bernie are as smart as everyone says they are they will fold and give the teams what they want. If they dont they will look forward to an expensive legal battle between themselves, CVC and the 3 teams who are apparently signed up to 2012.

The 2 tier grid is the major point. The big teams don't want to spend millions within the regulations while the budget cap teams can do whatever they want (within budget) like run 4wd or movable rear wings, it would be a joke.

The secondary issue is the budget cap. Big teams cannot cut spending down to 40 million by next year after spending hundreds of millions, laying off most of the workforce. They want it to progessively come down.