MILLIONS of Formula One (F1) fans are holding their breath and watching in anticipation as eight of the 10 F1 teams have decided that they will break away and form their own racing series next year.
While some are still hoping that a compromise could still be reached, most are wondering what would happen to the future of the sport once the split occurs.
But while F1 is and has been the pinnacle of motorsports, it�s the teams that will always be the stars of the show.
And with big names Ferrari, Brawn GP, McLaren Mercedes, Renault, Toyota, BMW Sauber, Red Bull Racing and Toro Rosso no longer headlining the event, it could mean imminent death for F1.
To recap, the debacle ignited when F1�s governing body, the International Automobile Federation (FIA), announced in April that it was implementing an optional budget cap of �40mil for the 2010 season.
Teams choosing to take up the budget cap would be allowed greater technical freedom, together with unlimited testing while those choosing not to, could spend freely but would be subjected to technical and testing constraints.
The FIA�s primary reason for the ruling was to curb costs, especially in light of the current economic downturn and to also allow teams with smaller budgets to be part of F1.
However, most of the F1 teams comprising the Formula One Teams Association (FOTA) did not sit well with the new stipulations and last week announced that they would break away from F1.
Only the Force India and Williams teams have committed to remaining with F1, along with three new entrants � Campos, US F1 and Manor � who have yet to build any grand prix cars.
FOTA has said that its new series would encourage more entrants, listen to the wishes of fans, have transparent governance, and even promised lower prices for spectators worldwide, partners and other important stakeholders.
�The major drivers, stars, brands, sponsors, promoters and companies historically associated with the highest level of motorsports will all feature in this new series,� it said.
FOTA�s statements seem to fall short of saying outright that it would become �the new F1.�
Should this new series deliver on its promises, than it would no doubt become the new pinnacle of motorsports.
Fans and observers alike have argued that F1 had become somewhat of a �spec series� of late, featuring cars that had virtually no room for any meaningful innovation, riding only on single-branded tyres and controlled by virtually similar electronics.
A blogger recently commented that for the pinnacle of motorsports to be great again, it would need to reinvent itself, arguing that the best way to do it was to �throw away the old and start afresh with a clean sheet of paper.�
�FOTA can win by providing a substantially different product than the one provided by the FIA. They must create a series that will embrace speed, danger, and innovation. These are all things that the FIA F1 does not and will not stand for,� he said.
Should F1 survive the split, it would be very interesting to see if a series governed by the FIA and the one spearheaded by the racing teams could co-exist side by side.
The FIA F1 will certainly find it increasingly difficult to attract sponsors who would understandably be more keen to associate with established names like Ferrari or McLaren Mercedes, rather than Campos or Manor.
It is also arguable if the average fan would be willing to spend money on two racing events that are conceptually similar.
To quote Sepang International Circuit Sdn Bhd chairman Datuk Mokhzani Mahathir, �it becomes a beauty contest� between the original F1 and the new F1.
At the end of the day, it is �the real F1� that would prevail, and most, if not all fans, already know who the winner will be.
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