Formula One news

Toyota hints at exit from F1

The Toyota team is close to pulling out of Formula 1, it has warned, after seeing the two other Japanese teams - Super Aguri and Honda - leave the sport last year. The team is not happy with the FIA's new proposed regulations for a budget cap and 'two tier' system to be introduced next season, forecasting little future in the sport for next season.

"Under the rules as they are published, we cannot submit an entry," team president John Howett told Autosport. "There are concerns about the governance process within the sport, that there are clearly prescribed areas of discussion within the sporting and technical rules and we don't feel they are being complied with.

"From Toyota's perspective there are a number of concerns that really need clarifications before we commit to the future; we want to be here, we believe we have been a good corporate citizen within the F1 environment, but now we must reflect long and hard on what we do in the future."

As a result of Howett's comments, the chances of seeing the team remain in the sport for 2010 appear slim unless regulations are modified by governing body the FIA. "I would say it is very likely we won't enter unless something changes significantly," he confirmed.

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