Formula One Teams' Association (FOTA) disbanded

Following weeks of speculation about the organisation's future, as teams debated whether or not it should continue, a decision has been made to close it.

Oliver Weingarten, FOTA's secretary general, said: "I can confirm that FOTA has been disbanded, as a result of its members having re-evaluated their requirements in the face of a changing political and commercial landscape in Formula 1."

FOTA was formed in 2008 in a bid to give the teams a united voice in their discussions with the FIA and F1 supremo Bernie Ecclestone regarding future commercial negotiations.

It had commitment from all the teams on the grid and the unity proved a major headache for then FIA president Max Mosley and Ecclestone.

Talks between the three parties to frame future rules proved strained at times and, amid unease about cost control suggestions, FOTA proposed a breakaway 'Grand Prix World Championship' series for 2010 - before a deal was reached to keep all the outfits in the sport.

However, FOTA's unity was shattered at the end of 2011 when Red Bull, Ferrari and Sauber quit the organisation following disagreements about cost-cutting measures.

FOTA carried on without them, under the chairmanship of McLaren team principal Martin Whitmarsh, and continued to work for all teams in a number of areas, including testing agreements and fan forums.

However, changes in the paddock - including Whitmarsh being sidelined at McLaren - and new structures like the F1 Strategy Group as part of the latest Concorde Agreement plan, cast question marks over FOTA's future.

In the end, the teams decided that the body should no longer continue.