Ferrari and Red Bull have opted to pull out of the Formula One Teams Assocation (FOTA) ahead of the 2012 season, with the Resource Restriction Agreement (RRA) being cited as the main reason for concern. After being contacted by GPUpdate.net, the organisation confirmed that two teams have requested to leave.
"FOTA confirms it has received the resignation of two teams," the statement read. "Whilst considering its next steps, FOTA will continue to work on behalf of its members to achieve the aims of the organisation."
Despite their actions, the title-winning outfits will not be able to officially pull out until February 2012, with a rule tying parties in for two extra months.
From that time, if Ferrari and Red Bull do not change their minds, FOTA will consist of nine teams, with HRT F1 previously deciding to make an exit.
Ferrari outlines reasons for FOTA exit
Red Bull confirms FOTA departure
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damn... will McLaren be next???