Early on Friday morning, the FIA issued a statement insisting it is unmoved by eight major Formula One teams' plans to set up a rival series. The Paris body, led by its controversial president Max Mosley, said it is "disappointed but not surprised" that the protracted negotiations about income, governance and rules ultimately failed. "The FIA cannot permit a financial arms race in the championship nor can the FIA allow FOTA to dictate the rules of Formula One," part of the statement read. The FIA said Friday's deadline for five FOTA teams to unconditionally sign ... (Full Story)