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Red Bull, Ferrari quit F1 association

Ferrari and world champions Red Bull have both decided to withdraw from the Formula One Teams Association (FOTA), the organisation announced yesterday, amid a row over how to reduce costs in the sport.

The teams confirmed their intention to pull out yesterday afternoon, with Ferrari claiming "FOTA's drive has run its course". 

Both teams, two of the most high-profile in the sport, have criticised FOTA's failure to find agreement over the Resource Restriction Agreement (RRA), which aims to cut F1's growing costs.

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