The Formula One Teams' Association, which was formed six years ago to represent the interests of its members, is being wound up.FOTA's demise comes as little surprise. Its inception in 2008 came during a period of particular turmoil in the sport: a worldwide economic downturn precipitated Honda's exit, BMW and Toyota were to follow suit while then FIA President Max Mosley was also moving to push through a stringent budget cap. Under the auspices of FOTA, the teams fended off the latter and instead agreed their own 'Resource Restriction Agreement', limiting costs on their own terms. Although the agreement was never wholly enshrined in F1 rules, aspects of it are now, for example the limits...
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