Mosley prepared to crush FOTA, and he will

Mosley, in his element, will 'spank' the FOTA teams

Motor-racing supremo Max Mosley, who NEVER loses in court, has threatened to sue all eight teams vowing to quit the FIA and set up their own championship, and don't think for a minute that he won't prevail.

British legend Jackie Stewart also weighed in to demand Mosley steps down before the entire sport self-destructs.

But Mosley, 69, broke his silence to come out punching – refusing to budge from his position as president of the FIA and setting in motion a £1bn legal battle.

Jenson Button's Brawn GP team, Ferrari, McLaren, Renault, BMW Sauber, Toyota, Red Bull Racing and Toro Rosso have all refused to accept Mosley's proposed £40million spending cap for next season (plus driver salaries, etc, putting the number over $100M).

"It is in the interests of the teams to be in the F1 world championship and there's actually no fundamental or important issue that is stopping them taking part. It is all about personalities and power and who can grab what from whom – which is easy when nothing is at stake but when it gets to the first race and it is make-your-mind-up time, they'll be there."

Earlier, the FIA issued a dramatic statement from their Paris HQ, insisting their lawyers "will be issuing legal proceedings without delay".

Ferrari recently lost their bid for an injunction to stop proposed changes to the sport.

They refused to comment further but other FOTA members remain adamant they will stick to their bombshell announcement.

Brawn GP team owner Ross Brawn said: "The teams' ambition is not to take over F1 but they have a massive investment in it. They want their investment protected."

McLaren team boss Martin Whitmarsh added: "FOTA's position isn't that we don't want to cut costs, we do.

"Ultimately, we're very close in many things. And that is perhaps one of the sad things.

"If you look at FOTA's position and the FIA, there are a lot of common views and yet, for whatever reasons – maybe personal relationships – we weren't able to come to an arrangement."

Instead, the eight members of the Formula One Teams' Association announced they were quitting to set up their own grand-prix circus.

But Mosley blasted: "Basically, the teams don't want agreement – they want sporting power and money.

"Many have already been paid half of their participation fees until 2012 up front and in one case they would have to pay back £100m, while others will run to tens of millions.

"The amounts involved could be massive if we go for damages to Formula One. Breakaway? Pure fantasy, they know it is fantasy. It is never going to happen.

"If they set up the Golden Steering Wheel Championship, who will want to watch it?

"It is not the FIA Formula One World Championship. That is what counts. I know because I once tried to set up a rival series with Bernie Ecclestone.

"I am less likely now to step down in October because any thoughts I had about retiring are fading.

"If I dropped dead tomorrow they will probably get someone worse than me, with far less understanding of F1."