Formula One news
Lola ready to submit entry
15 May 2009The British Lola team is prepared to submit its entry to the 2010 World Championship as a result of the FIA's cost-capped regulations. Although a meeting will be taking place with regards to a possible modification of the cap later today, the team is ready to make its return to the sport for the first time since a brief spell in 1997.
Lola's Friday announcement stated that the company's original interest in re-entering F1 came when hearing of Max Mosley's originally suggested £30m budget cap, which became £40m after further delegation. 'The decision by the WMSC (FIA World Motor Sport Council) to revise the figure to £40 million plus engines, marketing, hospitality and driver fees led to a re-examination of the opportunity by Lola culminating in today's confirmation that it will proceed with its Formula One project' the statement read.
It went on to explain that it is in the team's view that FIA assistance for new entries is vital in order to successfully form a new F1 team, as well as designing and manufacturing the cars. The statement concluded: 'The Lola Group is forging ahead with its Formula One project with the objective of securing an entry into the 2010 FIA Formula One World Championship™ and in the expectation that the decisions of the WMSC will be respected in full'.
The news from Lola is likely to throw a cat amongst the pigeons for the FIA, however, which will be meeting with the Formula One Teams' Association (FOTA) at Heathrow today; the governing body may have to delay its final decision over the budget cap - which has resulted in quit threats from no less than five current teams - until further analysis of the scheme has been conducted.
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