Lola withdraw F1 application for 2010

The British-based chassis maker says it has withdrawn its application to compete in Formula One next year.

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LONDON // Lola have withdrawn their application to compete in Formula One next year, the British-based chassis maker said today. The company failed to secure an immediate place on the entry list published by the governing International Automobile Federation (FIA) last week. However, until today they had been on call should any of the existing teams fail to confirm their places by Friday. Lola, whose omission last Friday was a surprise to many, said in a statement they had now advised the FIA that they were no longer in the running.

Five existing teams, including McLaren and championship leaders Brawn GP, have been told by the FIA that they must make their provisional entries unconditional by Friday or risk being left out in the cold. The eight-member Formula One Teams Association (FOTA) is at loggerheads with the FIA over the 2010 rules, and a planned budget cap, with champions Ferrari and others threatening to walk away and set up a rival series.

Lola did not say whether they might join the FOTA teams should that happen. Their decision to withdraw leaves the FIA with one less viable replacement should the five FOTA teams fail to confirm their entries. *Reuters