New Formula One Race
Formula One fans will watch a new rival race series in future.
Eight of the world's top motor racing teams - Ferrari,Mclaren,Red Bull,BMW-Sauber,Toyota,Renault,Toro Rosso and Brawn - are setting up a new championship series after deciding to break away from the current Formula One 2010 world championships.
The new rival race will be an exciting development in the world's premier motorsport world.
It means the end of the 60-year monopoly on Formula One racing under the International Automobile Federation(FIA).
World champions Ferrari is leading the challenge with the big eight teams organized under the Formula One Teams Association(FOTA).
"The teams cannot continue to compromise on the fundamental values of the sport and have declined to alter their original conditional entries to the 2010 world championships,"stressed FOTA.
"These teams,therefore,have no alternative other than to commerce preparations for a new championship which reflects the values of its participants and partners."
The decision by FOTA to unite and set up the new race series signify a new era in premier motorsport racing to be run more democratically.
It is an apparent slap to FIA's autocratic deadline yesterday(June 19,2009) for the teams to submit "unconditional entries" or risk exclusion in favour of new competitors for FIA's 2010 world championship.
The eight FOTA teams had submitted conditional entries on the 2010 rules which include a controversial budget cap to be rewritten and signing of new commercial agreement.
This is in contrast to former world champions Williams,Force India and three new entrants - Campos,US F1 and Manor - commitment to unconditionally race.
FOTA now plans to start a new rival race series that would encourage more entrants,listen to the wishes of fans and have transparent governance.
It promises lower pricing for spectators, partners and stakeholders as the carrot.
"The major drivers,stars,brands,sponsors,promoters and companies historically associated with the highest level of motorsport will all feature in this new series," FOTA assured.
Looks like the fight for Formula One supremacy will be won hands down by the FOTA upstart.
This is because FOTA commands fantastic financial muscles and special glamour star appeal like those associated with Ferrari and McLaren.
It will eclipse the current Formula One world championship,resulting in questioning about its long-term sustainability and survival of Formula One commercial supremo Bernie Ecclestone at the helm.
For Formula One fans,it is better to have an alternative Formula One series.
Competition is both healthy and necessary to spur improvement,greater customer satisfaction and elimination of unreasonable policies and terms.
It is the best antidote against dictatorial mindset,harsh terms and exploitation in any sport,industry or arena - be it motorsport,steel,banking,airline,big business or politics anywhere in the world.
In fact, the more competition the more choices the better.
We can pick and choose to support the best one who offer more value for money.
I welcome FOTA new Formula One series.