(MY077) F1 Teams Association walks out of FIA meeting

LONDON – The Formula One Teams Association has walked out of a meeting with the sport's governing body to discuss cost-cutting measures.

The FIA was to meet Wednesday with the 13 teams that have entered the 2010 F1 championship to discuss measures agreed to last month that kept FOTA from forming a breakaway series.

But there has been no agreement over a minimum weight limit or on signing a legally binding agreement to reduce costs to the level of the early 1990s.

The FIA said: "The eight FOTA teams were invited to attend the meeting to discuss their further proposals for 2010. Unfortunately no discussion was possible because FOTA walked out of the meeting."

FOTA's members are Ferrari, McLaren BMW Sauber, Renault, Toyota, Red Bull, Toro Rosso and Brawn GP