Now we know what Ferrari CEO, Luca di Montezemolo’s statements were all about when less than a month ago, he hinted at the Scuderia leaving Formula 1, something that the company had then denied claiming that its head honcho’s words were misinterpreted.

Well, leaving the Formula One Teams Association (FOTA) is an action that is not really open to any sort of interpretations – especially when Ferrari itself issues a lengthy statement explaining why it is leaving the association that di Montezemolo himself was presiding over until 2009.

After praising current FOTA president, McLaren’s Martin Whitmarsh, Ferrari’s press release goes on to explain its action. The real reasons are actually revealed in the final paragraph:

“We must return to a situation where Formula 1 is really a test bed for advanced technological research. In addition, we must not forget that this sport must become more user friendly and more accessible to the general public and furthermore, it cannot be the only professional sport where it is practically impossible to do any training.”

So in a nutshell, the Scuderia left FOTA because it thinks the sport is becoming too watered down in the name of cost reductions.

Reigning drivers’ and constructors’ champions Red Bull Racing also followed suit, although its own statement was much shorter:

“Red Bull Racing can confirm it has served notice to withdraw from FOTA. The team will remain committed to finding a solution regarding cost saving in Formula One.”

Meanwhile, the sport’s governing body, FIA, released the provisional 2012 Championship entry list, with about a third of the racing seats still looking for the right (i.e. extremely talented and/or obscenely rich) occupant…