Complex sentence: By far the most significant development was the Qatar Team's withdrawal from the sport following a merger between the Qatar Sailing Federation and Qatar Marine Sports Federation (QMSF); the latter of the two bodies having previously run the Qatar F1H2O operation.
Split into simpler sentences: By far the most significant development was the Qatar Team's withdrawal from the sport following a merger between the Qatar Sailing Federation and Qatar Marine Sports Federation (QMSF). The latter of the two bodies having previously run the Qatar F1H2O operation.