JUNE 12, 2009
ACEA comes to the rescue of FOTA
The members of the Board of the European Automobile Manufacturer's Association (ACEA) have announced that the current governance system in F1 cannot continue.
In a statement from Brussels, the European car-makers body announced that "ACEA has come to the conclusion that the FIA needs a modernised and transparent governance system and processes, including the revision of its constitution, to ensure the voice of its members, worldwide motorsport competitors and motorists are properly reflected."
"The ACEA members support the activities and objectives of the Formula One Teams Association to establish stable governance, clear and transparent rules which are common to all competitors to achieve cost reductions including a proper attribution of revenues to the F1 teams, in order to deliver a sustainable attractive sport for the worldwide public."
"Unless these objectives are met, the BMW, Ferrari, Mercedes, Renault and Toyota along with the other teams are determined to find an alternative way to practice this sport in a manner which provides clarity, certainty of rules and administration, and a fair allocation of revenues to the competing teams."
ACEA represents BMW Group, DAF Trucks, Daimler, FIAT Group, Ford of Europe, General Motors Europe, Jaguar Land Rover, MAN Nutzfahrzeuge, Porsche, PSA Peugeot Citroën, Renault, Scania, Toyota Motor Europe, Volkswagen and Volvo.
This is not good news.
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