N.Technology hits out at the FIA

The Italian team - best known for its touring car successes and running the International Formula Master series - had said earlier this week that it did not understand the FIA's decision not to accept its 2010 entry and to keep it on the reserve list.

As AUTOSPORT revealed this morning, N.Technology pulled out of contention for a 2010 slot in the wake of the FOTA teams announcing their plan to set up a rival to Formula 1 next year, and MSC has now issued a statement strongly criticising the FIA's handling of the situation.

"With much regret, taking into consideration the highly questionable process conducted by the FIA, which is affected by many irregularities, and the uncertainties regarding the 2010 FIA Formula 1 World Championship, the MSC board decided last night to withdraw its application, as Team N.Technology, under the new regulations allowing entry of 'capped budget' teams," said the statement.

"MSC believes that through its wrong actions and objectionable management methods, the FIA severely hurt MSC's efforts to become a new team and undermined the Formula 1 sport, taken as a whole."

The company did not rule out re-applying for an F1 place when the current controversy was settled.

"MSC shall consider making a new application when the Formula 1 environment is stabilised and the conditions are met for a transparent and loyal contest, ensuring visibility and predictability to the candidate teams," it said.

"MSC wishes to renew its warm acknowledgements to the sponsors, technical and business partners who support its efforts to become a new independent Formula 1 team."

The MSC board is comprised of team boss Mauro Sipsz and former Eurosport CEO Angelo Codignoni.