Hispania opts out of F1 teams body | india | Hindustan Times
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Hispania opts out of F1 teams body

india Updated: Jan 11, 2011 01:00 IST

Reuters
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Hispania (HRT) have left the Formula One Teams Association (FOTA) as they no longer feel it serves their interests to be a member, a team spokeswoman said on Monday.

“We left FOTA around Dec 15,” she said. “For our interests it is better not to be there. It's more for the big teams than the small ones.”

The other 11 teams remain members of the organisation that allows them to speak as a united group in talks with the governing International Automobile Federation (FIA) and commercial rights holder Bernie Ecclestone.

FOTA, chaired by McLaren principal Martin Whitmarsh with Ferrari's Stefano Domenicali as his deputy, has in place a 'resource restriction agreement' (RRA) between teams designed to limit their spending and cut the costs of competing.

The teams are seeking to renew that agreement between themselves with a new one to run from 2011 to 2017 but a consensus has been hard to reach on budget limits and what falls within spending restrictions.

“We are all in favour of containing costs moving forward, and the RRA is a good way of achieving that as long as it is consistent, fair, equitable and transparent across all the activities of all the teams,” Christian Horner, boss of champions Red Bull,said. Horner, who chairs the FOTA sporting regulations working group, denied that Red Bull had overspent last year.