Twenty-four hours before the Friday deadline, FIA president Max Mosley has made a final offer to rebel formula one teams in a bid to end the sport's political crisis.
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The Formula One Teams' Association announced on Thursday night that it is setting up a breakaway championship.
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Negotiations to revive the axed Canadian grand prix in Montreal are still taking place, according to reports in the country.
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Formula 1's crisis is creeping awkwardly towards a compromise, after the FOTA rebels wrote a letter to FIA president Max Mosley. However, Mosley does not agree with everything the FOTA says in the letter...
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British race car manufacturer Lola Group has issued an important press release on Wednesday morning that will hugely disappoint FIA's president Max Mosley who wanted to attract new teams with the implementation of the infamous budget cap.
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It emerged on Wednesday that Formula 1's rebel FOTA teams have moved to end the standoff with the FIA by devising a final offer of compromise.
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As David Coulthard retired and Rubens Barrichello's future looked shaky over the winter off-season, Jarno Trulli nearly sped onto the front row as one of the oldest drivers in formula one.
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According to two well informed British sources, the person who wrote the original blog post saying that Honda in facto still owned 111 shares in Brawn GP was unfortunately mistaken.
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Former Grand Prix driver Niki Lauda has slammed formula one's political crisis as the making of "egocentric managers" engaging in "personal feuds".
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Initially with a budget only for 2009, and as yet not officially signed up to race next year, Ross Brawn is nonetheless confident his championship-leading team Brawn GP will still be around next season.
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An official of the famous 24 Heures du Mans sports car endurance race has invited formula one teams to next year's Le Mans.
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In today's News Brake: GM crimps the flow of money to NASCAR teams; the Summer of Love Tour notches its first weekend; and Ross Brawn's dominating Formula One team is having a garage sale ... But Wait, There's More!
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Last weekend's Le Mans winner, Ferrari test driver and veteran of 36 grands prix Marc Gené has been named as a possible driver for a new Spanish formula one team.
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Having secured a spot on the 2010 grid, new formula one entrant Team US F1 expects to select drivers for the North Carolina-based outfit "pretty soon".
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New rumours have arisen linking Coca-Cola with a sponsorship foray in formula one.
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The administrator of the Brawn F1 blog has posted today very interesting news about the property of the Brawn GP Team, née Honda...
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According to Bernie Ecclestone, Formula 1's political crisis is grinding on with no solution in sight because it is not about disputed rules but "power".
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Jonathan Summerton returned to Victory Circle and brought Genoa Racing its first Atlantic win since 1994 in the first race of the Mazda Formula X at New Jersey Motorsports Park on Saturday afternoon.
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Formula one bosses' glut of meetings will roll into yet another week on Monday, as the rebel FOTA alliance jets into Heathrow airport.
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