FOTA to form rival competition

The Formula One Teams’ Association have sensationally confirmed they are to form a breakaway series, causing the greatest upheaval in the sport’s 60-year history.

Following a meeting last night of the eight teams that currently form FOTA - Ferrari, McLaren, Renault, Toyota, BMW Sauber, Brawn GP, Red Bull Racing and Toro Rosso – they have all declined to enter F1 for 2010.