Toyota Yet to Approve F1 Budget for 2010

One of the reasons why Toyota have refused to pick the extension option in Timo Glock's contract was revealed today by the very team principal of the Panasonic Toyota F1 Team, Tadashi Yamashina. Although not referring specifically to Glock's situation, the Japanese officials admitted that money issues are currently preventing the Cologne based team from making any arrangements for the future.

We need to turn it into an F1 where you don't need so much money. We'll have to consider various issues while bearing in mind our ties with the main (Toyota) company,” said Yamashina at a news conference in Tokyo, according to the Yomiuri newspaper.

Although the team has signed the new Concorde Agreement, binding the existing Formula One teams to the sport until the end of 2012, the Japanese manufacturer is yet to approve the budget for their 2010 F1 operations. According to some sources in Japan, the Toyota executive committee is to make that decision in mid November, two weeks after the season finale at Abu Dhabi.

Under the circumstances, making plans for the future doesn't seem like the smartest thing do to. On the other hand, should either Timo Glock or Jarno Trulli secure a deal with another team until that date (November 15th) and the Japanese manufacturer would approve a new budget for 2010, the team would then be forced to look for a new lineup.

Unlike several media in Germany that interpreted Toyota's decision as a way to fire their fellow countryman, Glock insisted that he could continue at Cologne from 2010 onwards. However, until the situation will be cleared by Toyota, he is free to look for other opportunities for next season.

I can look around at other teams, because Toyota has to clarify certain things,” the German driver was quoted as saying to the media on Tuesday.
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