F1 is going to suck next year if the manufactures decided to leave.
"Today, the members of the Board of the European Automobile Manufacturers' Association discussed the current situation prevailing in Formula One, and have concluded that the current governance system cannot continue," the ACEA press release begins.
"ACEA has come to the conclusion that the FIA needs a modernised and transparent governance system and processes, including the revision of its constitution, to ensure the voice of its members, worldwide motorsport competitors and motorists are properly reflected."
"The ACEA members support the activities and objectives of the Formula One Teams Association to establish stable governance, clear and transparent rules which are common to all competitors to achieve cost reductions including a proper attribution of revenues to the F1 teams, in order to deliver a sustainable attractive sport for the worldwide public," the statement reads.
While supporting the FOTA members' wish to work out an agreement with the FIA, the ACEA let it be understood that it is also willing to support other initiatives which would permit the 'rebel' Formula One teams from performing their art in other areas.
In other words, the European Automobile Manufacturers' Association indicated it is ready to pull out its teams from Formula One unless a satisfactory agreement is reached between the FOTA members and FIA President Mosley.
"Unless these objectives are met, the BMW, Ferrari, Mercedes, Renault and Toyota along with the other teams are determined to find an alternative way to practice this sport in a manner which provides clarity, certainty of rules and administration, and a fair allocation of revenues to the competing teams," the ACEA statement concludes.
The ACEA group includes DAF, BMW, Daimler, FIAT, Ford, GM, JAG/Land Rover, MAN, Porsche, Peugeot/Citroen, Renault, Scania, Toyota, VW, Volvo.