The news hasn't been officially confirmed, but it is expected to be announced as soon as Friday, the day when the World Motor Sport Council meets in Como, Italy. According to GMM, the decision has been made ever since last week by the governing body.
The list of teams which raced for a spot on the first stage of racing comprised at one point some eight teams, a number which was reduced by the FIA to only three in July this year. Bernie Ecclestone announced the same month that each of the teams going for a spot on the grid in the 2011 season would have to pay a EUR19 million ($24.4 million) as a guarantee of their financial strength.
“We have told them that if they can't put 16 million (British pounds) in now we don't want them. If they can't find that now there is no way they are going to run,” Ecclestone said back in July.
The three teams which had the capability to deposit the sum asked by the FIA were Villeneuve Racing,
Epsilon Euskadi and Cypher Group. Apparently though, money was not the only criterion to be met by the bidding teams.
As said, more is likely to be revealed on Friday.