Lola Confirms 2010 Entry in Formula One
As announced by the International Automobile Federation late last month, the deadline for submitting an application for an F1 entry in 2010 is May 29. However, due to the latest quit threat row inside the F1 series, FIA president Max Mosley is to meet the FOTA representatives to further discuss the two-tier concept set up by the 2010 regulations, with the deadline likely to be moved for early June if an agreement between the two parties is not reached.
“Following completion of its evaluation of the technical regulations for cost-capped Formula One teams announced by the FIA World Motorsport Council on 29th April 2009, the Lola Group is pleased to announce that it will be submitting an entry for the 2010 FIA Formula One World Championship,” said the statement from Lola.
The statement added that the main argument to convince Lola that this is the perfect time to rejoin the series was the voluntary 40M (pounds sterling) budget cap confirmed by the FIA a few weeks ago.
“The original cap of £30 million, including engines formed the basis of Lola’s initial interest. The decision by the WMSC to revise the figure to £40 million plus engines, marketing, hospitality and driver fees led to a re-examination of the opportunity by Lola culminating in today’s confirmation that it will proceed with its Formula One project.”
“The Lola Group believes that the WMSC decisions relating to cost-capping and the provision of revised technical regulations to facilitate the entry of new teams into Formula One should be embraced. This is not only prudent considering the backdrop of global economics but also taking into account the need for new teams to be able to compete credibly against long established entrants,” added the statement.
The FIA is to publish the complete F1 entry list for 2010 in mid-June.