Formula One Teams' Association collapses

A group that acts on behalf of Formula One teams is being disbanded because of financial issues, likely giving more control of the sport to Bernie Ecclestone.

Formula One Teams' Association secretary general Oliver Weingarten says the organisation collapsed over unpaid subscription fees and a failure to strike an agreement for 2014 with all 11 teams. Seven teams were officially in FOTA last year.

Weingarten tells The Associated Press that the "teams will probably think they can exist and fight their own corner but there will be something when they will realize they will be stronger in numbers."

Weingarten predicts there is a "crisis around the corner" in F1.