FOTA Backs Renault and McLaren in Unpaid Debts Dispute

Just as we told you yesterday, McLaren and Renault have threatened Bernie Ecclestone that they might boycott the Australian Grand Prix unless the Englishman pays his debts to the teams. Ecclestone himself confirmed the dispute, explaining that former boss of McLaren Ron Dennis issued the threat because of the unpaid debts following the new Concorde agreement.

The F1 boss replied in his very own style to the two rivals, explaining that Renault and McLaren should be careful unless the come out with worthwhile accusations. "And they should make sure it's got bullets in it because, if they miss, they better look out," he said.

In a statement published today, FOTA expressed its support for the two involved F1 teams. Here's the complete statement, as provided by FOTA:

"FOTA wish to clarify the situation regarding remarks that have been widely reported in the last few days concerning a meeting between members of FOTA and the Commercial Rights Holder.

The meeting, which took place in London on March 18th, involved John Howett, the Vice Chairman of FOTA, Flavio Briatore in his capacity as chairman of the Commercial Working Group of FOTA and Ron Dennis as a member of the Executive Committee of FOTA as well as Bernie Ecclestone, the Commercial Rights Holder. The FOTA representatives presented the unified views of all FOTA members.

The purpose of the meeting was to discuss payment of money owed by CVC (the effective owners of the commercial rights to Formula One) to the teams and relates to agreed sums owing from the 2006, 2007 and 2008 championship years.

FOTA are committed to accelerate the signing of the new Concorde Agreement and, as part of the conditions necessary to obtain the signatures of all the teams, it was necessary to reach a conclusion to this outstanding matter.

During the discussions, any position stated by the members of FOTA who were present was supported by all members."
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About the author: Bogdan Popa
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Bogdan keeps an eye on how technology is taking over the car world. His long-term goals are buying an 18-wheeler because he needs more space for his kid’s toys, and convincing Google and Apple that Android Auto and CarPlay deserve at least as much attention as their phones.
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