The FIA have released a terse press release in response to the announcement that FOTA teams including Ferrari, Red Bull, McLaren, BMW Sauber and Brawn GP would stage a rival Formula One series in 2010.

The simple 110 word statement reads:

The FIA has noted the latest press statement from FOTA.

The FIA is disappointed but not surprised by FOTA’s inability to reach a compromise in the best interests of the sport. It is clear that elements within FOTA have sought this outcome throughout the prolonged period of negotiation and have not engaged in the discussions in good faith.

The FIA cannot permit a financial arms race in the Championship nor can the FIA allow FOTA to dictate the rules of Formula One. 

The deadline for unconditional entries to the 2010 FIA Formula World Championship will expire this evening. 

The 2010 FIA Formula One World Championship entry list will be announced tomorrow.

Meanwhile here in beautiful GirtbySea, Victorian tourism and special events apologist Tim Holding has announced to an eager and bewildered mainstream media that the Albert Park GP will go ahead as planned no matter what happens in Europe.

Tourism and Major Events Minister Tim Holding said the contract with Mr Ecclestone ensures a Formula 1 Grand Prix takes place every year up until 2015. 

“This is part of the pushing and shoving that Formula 1 is well known for,” Mr Holding said. 

Speaking to the Murdoch media owned Herald Sun Holding said “We know these negotiations will continue and we also know that we will get a good outcome. Let’s give the negotiations that are currently underway an opportunity to run their course.” 

Mr Holding left the media conference on his magical flying carpet to return to Asgard.