SILVERSTONE, England -- Formula One's future was in turmoil Friday after Ferrari, McLaren and six other teams announced plans for a rival series following the collapse of heated negotiations with the sport's organizers over a budget cap for next season.

The FIA, the sport's governing body, responded by accusing the Formula One Teams Association of trying to dictate the rules of motorsport and intentionally triggering the biggest crisis to engulf F1 since the championship began in 1950.

Friday, FIA said it would take legal action against Ferrari and other teams planning the breakaway

series.



"The actions of FOTA as a whole, and Ferrari in particular, amount to serious violations of law including willful

interference with contractual relations, direct breaches of Ferrari's legal obligations and a grave violation of competition law," FIA said in a statement. "The FIA will be issuing legal proceedings without delay."

Ferrari has participated since that inaugural series, but is now set to break away along with current championship leader Brawn GP, McLaren, Renault, Toyota, BMW Sauber, Red Bull Racing and Toro Rosso.

Bernie Ecclestone, who owns F1's commercial rights, said he was unsure whether FIA president Max Mosley could still resolve his dispute with the rebel teams.