FOTA took a big hit when Martin Whitmarsh departed. (Photo: Getty Images)

took a big hit when Martin Whitmarsh departed. (Photo: Getty Images)

The Formula One Teams’ Association has officially folded, in a move that had been expected for some time.

A short statement said: “As of the 28th of February 2014 FOTA will be disbanded, as a result of its members’ having re-evaluated their requirements in the face of a changing political and commercial landscape in .”

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