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May 23rd
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Red Bull Racing confirm FOTA exit

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The Red Bull team have followed Ferrari in confirming reports that they will leave the Formula One Teams' Association, after having officially handed in their withdrawal from the troubled team organisation earlier this week.

Red Bull and Ferrari were both reported to have submitted withdrawal requests from the alliance earlier on Friday.

Later on, Ferrari confirmed that they were pulling out of the arrangement, suggesting that FOTA had now "run its course".

And Red Bull also confirmed their plans to withdraw in a brief statement on Friday afternoon.

Like Ferrari's confirmation, the caffeinated team stated that they were still committed to helping the teams come to a long-term cost-cutting agreement, despite leaving FOTA.

"Red Bull Racing can confirm it has served notice to withdraw from FOTA," the virtually-useless statement confirmed.

It added: "The team will remain committed to finding a solution regarding cost saving in Formula One."

The pair of withdrawals came amidst the ongoing failure of FOTA's members to come to a firm union over the future of the Resource Restriction Agreement.

The RRA was introduced at the start of 2010, but recent efforts to renegotiate the deal for 2012 and beyond have met with stalemate.

The withdrawal of both Red Bull and Ferrari leaves FOTA standing at just nine teams, with HRT having withdrawn earlier this year.

The alliance was formed in 2008 in an effort to give teams a united front in discussions with the sport's organisers over the future of F1.

Red Bull, like Ferrari, will officially leave FOTA after a two month notice period.