The FIA has this morning issued the following statement in reaction to FOTA's announcement that it is to form its own series:

The FIA has noted the latest press statement from FOTA.

The FIA is disappointed but not surprised by FOTA’s inability to reach a compromise in the best interests of the sport. 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.

The FIA cannot permit a financial arms race in the Championship nor can the FIA allow FOTA to dictate the rules of Formula One.

The deadline for unconditional entries to the 2010 FIA Formula World Championship will expire this evening.

The 2010 FIA Formula One World Championship entry list will be announced tomorrow.

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FIA reacts to FOTA announcement

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