Lola announces her application for 2010 in F1

Just a few weeks after expressing its desire to return to Formula 1, the British team Lola is now ready to submit its entry for the 2010 World Championship.

Even with today’s meeting regarding a possible modification of the capped budgets, a key argument that motivated its commitment, the team is ready to make its return to the world of Formula 1 for the first time since its brief appearance in 1997.

The announcement from the Lola team declared this Friday proves that the company is interested in a return to Formula 1 following Max Mosley’s proposals, where initially, he had proposed a budget cap of 30 million pounds sterling, currently set at 40 million pounds sterling.

« The decision taken by the WMSC (World Motor Sport Council of the FIA) to revise this figure to 40 million pounds sterling, plus engines, marketing, hospitality, and driver entry fees, has led to further examination of possibilities for Lola, resulting in the confirmation today of the project to return to Formula 1, » excerpt from the official statement.

Explanations on the team’s opinion have been published, stating that FIA assistance on new entries is essential for successfully forming a new Formula 1 team, as well as for the design and manufacture of the cars.

The official statement concluded: « The Lola Group is determined to move forward with its Formula 1 project with the aim of securing an entry in the 2010 FIA Formula 1 World Championship, with the hope that the decisions of the World Council will be fully respected ».

Lola’s statement is likely to cause a stir for the FIA. However, with the FOTA meeting at Heathrow today, the World Council will have to delay its final decision on budget caps, which has led to the suspension of threats from no fewer than five teams until a new agreement is reached.