Silverstone, Britain - Formula One team applicant N. Technology withdrew its bid on Friday, issuing sharp criticism on the ruling body FIA.

N. Technology's parent company MSC Organization accused FIA of "wrong behaviour" and questionable leadership. The statement said that FIA had undermined the team's efgfort to make its debut in F1 racing and undermined the sport.

N. Technology was one of 15 bidders to have a new team in F1 racing in 2010.

They were overlooked by FIA last week when only Campos Meta, Manor GP and US F1 were picked for the provisional 2010 entry list.

N. Technology said it may consider a new bid once the Formula One situation was more stable.

Earlier FRiday, eight top teams led by Ferrari and championship leaders Brawn GP had announced they will form a breakaway series due to a budget cap row with FIA.

The FIA said it will take legal action against the teams and that it has postponed indefinitely its announcement of the final 2010 grid.

On Wednesday, another applicant, Lola, had also withdrawn.(dpa)