Lola Disappointed with FIA Verdict, Withdraw F1 Application

British racing car manufacturer Lola officially announced that they've withdrawn their application for a 2010 entry, regardless of what will happen this Friday. June 19 is the deadline imposed by the FIA for the 5 provisional teams – McLaren Mercedes, BMW Sauber, Renault, Toyota and Brawn GP – to lodge unconditional entries for the upcoming season.

Some other applicants that were not included in the provisional 2010 entry list last week decided to join the waiting list, in case one of the five aforementioned teams will not make the cut yesterday. However, the Lola bosses are no longer willing to enter the sport, as they apparently feel very disappointed they were left out by Max Mosley last Friday.

“Lola F1 Team Ltd has today advised the FIA of the decision to withdraw its application to enter the 2010 FIA Formula One World Championship,” said the official press release from Lola.

“Significant financial investment has been made in producing its 2010 contender and the FIA had requested that the Lola F1 Team remain in a state of readiness for a possible future entry.”

“Lola F1 Team has thanked the FIA for giving its application to enter the 2010 FIA Formula One World Championship serious consideration,” added the statement.

Prior to their failure to make the FIA cut, Lola owner Martin Birrane had announced that everything was in place for the construction of a 2010 challenger. The British company worked very hard in the last couple of months to develop a strong programme for the upcoming season, but will now renounce all F1-related operations.