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Formula One: Timeline of F1 crisis

Formula One is in turmoil after months of wrangling over budgets and cost-cutting with most of the big-spending teams threatening to create a breakaway series. Here, AFP Sports outlines the major developments.

india Updated: Jun 19, 2009 17:25 IST

Formula One is in turmoil after months of wrangling over budgets and cost-cutting with most of the big-spending teams threatening to create a breakaway series. Here, AFP Sports outlines the major developments:

March 17
- Formula One's governing body, the FIA, and its president Max Mosley move to slash spiralling costs by introducing voluntary budget-capping for teams to 30 million pounds (42 million dollars) as of 2010.

The FIA says teams would enjoy more technical freedom if they agree to the new reforms.

"As an alternative to running under the existing rules, which are to remain stable until 2012, all teams will have the option to compete with cars built and operated within a stringent cost cap," says the FIA in a statement.

"The cost cap is 30 million pounds (currently approximately 33 million euros or 42 million dollars).

May 12
- Ferrari threaten to pull out of next season's Formula One championship unless the FIA backs down on proposals.
Following a meeting of Ferrari's Board of Directors, organised by president Luca di Montezemolo, the team says it will not continue in F1 unless the FIA reverses a decision to set a budget cap.

"The Board considers that if this is the regulatory framework for Formula One in the future, then the reasons underlying Ferrari's uninterrupted participation in the World Championship over the last 60 years would come to a close," says a statement.

Red Bull, Toro Rosso join Toyota also threaten to pull out.

May 13
- Renault become latest team to threaten not to take part in the 2010 championship.
"If the decisions announced by the World Council are not changed, we would have no choice other than to pull out of the Formula One World Championship at the end of 2009," says Renault F1 chief Flavio Briatore.

May 20
- A French court rejects Ferrari's bid to block the proposed changes. The Italian team have threatened to quit F1 unless the 2010 rules are shelved fearing the changes could usher in a two-tier championship.

May 22
- Teams and governing body meet on Renault boss Flavio Briatore's super-yacht Blue Force at Monte-Carlo, but after three hours of talks, FOTA, led by di Montezemolo, say they have not been able to reach any accord with Mosley.

May 29
- Ferrari and all other teams from the Formula One Teams Association (FOTA) submit conditional entries for the 2010 Formula One championship. McLaren, BMW Sauber, Toyota, Renault, Red Bull Racing, Toro Rosso and Brawn GP all sign up with Ferrari, despite the heated row over the voluntary budget cap.
Williams break ranks with FOTA to announce their entry before deadline.

June 4
- Mosley hits back in escalating row, telling rebel teams: "We now have a conflict and we will see who succeeds. I say to them -- if you want to draw up your own rules, then you can organise your own championship. But we have the Formula 1 championship."

June 7
- Formula One drivers declare their support for the teams. Spokesman Jarno Trulli says: "I think we drivers all understand very well which is the right side for us to be on - we are staying with the teams."

June 12
- Ferrari criticise their inclusion in the 2010 world championship, one of 13 teams named as participants. The confirmed entry list is made up of Ferrari, Toro Rosso, Red Bull, Williams, Force India, McLaren-Mercedes, BMW Sauber, Renault, Toyota and Brawn GP, plus newcomers Campos, USF1 and Manor.

McLaren-Mercedes, BMW Sauber, Renault, Toyota and Brawn GP submit conditional entries.
"Ferrari submitted on May 29 an entry to the 2010 FIA Formula One World Championship which is subject to certain conditions. As of today, these conditions have not been met," said a Ferrari statement.

"Notwithstanding this and despite Ferrari's previous written notice to the FIA not to do so, the FIA has included Ferrari as a unconditional participant in next year's Formula One World Championship.

"Ferrari reaffirms that it shall not take part in the 2010 FIA World Championship under the regulations adopted by the FIA in violation of Ferrari's rights under a written agreement with the FIA."

June 18

- Mosley makes last-ditch bid to reach agreement with rebel teams to prevent them setting up a breakaway series. He writes to Brawn, BMW-Sauber, McLaren-Mercedes, Renault and Toyota with fresh proposals.

The main proposal is to change the proposed budget cap for 2010 from 40 million pounds (45 million euros) to 100 million euros - and then to cut it further to 45 million Euros in 2011.

June 18
- FOTA say they are ready to launch breakaway series. Of the others, Williams and Force India have accepted the new FIA budget framework, along with the three new teams, USF1, Campos and Manor.

"It has become clear that the teams cannot continue to make compromises on the fundamental values of the sport," read a FOTA statement.

"They have refused to modify the conditions regarding their signing up to the 2010 world championship. The teams have no other alternative but to begin to prepare for a new championship which reflects the values of the competitors and their sponsors."

June 19
- FIA says it's disappointed, but not surprised by FOTA announcement. "It is clear that elements within FOTA have sought this outcome throughout the prolonged period of negotiation and have not engaged in the discussions in good faith," says a FIA statement.

"The FIA cannot permit a financial arms race in the Championship nor can the FIA allow FOTA to dictate the rules of Formula One." FIA underlines deadline for 2010 entries will expire later in evening with the team entry list to be announced June 20.