In recent months, the Serbian team has made immense efforts to be present on the grid of the Bahrain Grand Prix, having purchased the Cologne base from Japanese manufacturer Toyota, along with its technology, staff and car for the 2010 season (which they renamed into Stefan 01, from Toyota TF110).
Also, team boss Zoran Stefanovic has negotiated a deal with former Formula One champion Jacques Villeneuve, while also securing Japanese driver Kazuki Nakajima a spot in their 2010 lineup.
“The USF1 Team have indicated that they will not be in a position to participate in the 2010 FIA Formula One World Championship. Having considered the various options, the FIA confirms that it is not possible for a replacement team to be entered for the Championship at this late stage,” said the FIA statement yesterday evening.
However, the team's hopes of entering the series are not lost, as the ruling body confirmed it will hold a new selection process for the 2011 season.
“In the coming days the FIA will announce details of a new selection process to identify candidates to fill any vacancies existing at the start of the 2011 season,” added the FIA.
That being said, the 2010 F1 grid will therefore be comprised of only 24 cars, as compared to the initially projected figure of 26. With the new points system, almost half of the grid will receive points at the end of each GP.