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Teams set up new body

NEWS STORY
29/07/2008

Following today's meeting in Maranello, Ferrari has issued the following press release on behalf of the ten F1 teams that attended:

"All the Formula 1 teams met today in Maranello and held an extremely constructive meeting, in the presence of Bernie Ecclestone and Donald McKenzie (CVC).

"The teams have subsequently agreed unanimously that they will establish the new Formula 1 Teams Association to work with the FIA and FOM to agree upon regulations and commercial conditions which will provide a framework for a strong and dynamic sport."

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