Buzzin F1 – Formula One Blog

FIA

Today(Friday), was the deadline for all entries to be submitted for the 2010 Formula One Championship, including the Ferrari team who had threatened to walk away from the sport.

However, certain condition have been put forward from FOTA;

“The Concorde Agreement is signed by all parties before 12th June 2009, after which all FOTA teams will commit to competing in Formula One until 2012.  The renewal of the Concorde Agreement will provide security for the future the sport by binding all parties in a formal relationship that will ensure stability via sound governance.

The basis of the 2010 regulations will be the current 2009 regulations, amended in accordance with proposals that FOTA has submitted to the FIA.”

It was the president of the FIA, Max Mosley, who suggested that the cost cutting measures could be suspended for a year!

If these terms are agreed to where does that leave the new teams that have also signed-up for 2010 on the presumption that there would be a spending budget?

The USF1, Campos, Lola, Litespeed and Prodrive teams have all signed as new entries for the 2010 season.  David Richards has confirmed that he has submitted their entry for the Prodrive Team after receiving backing from sponsors.

Richards said,

“We are very appreciative of the support we have been given in putting together our entry, not least by both the FIA and FOM,” said the ex-F1 team principal. “With the help of Dar Capital, in raising the finance, coupled with our understanding of the latest proposals to assist new teams, we now feel the conditions are right to formally request the FIA for an entry.

“The level of next year’s cost cap has risen substantially since we originally considered entering. However everyone appears committed to major reductions in future years and when one takes into account the transition proposals for new teams we are confident that we now have the opportunity to be both commercially viable and competitive. As we have said all along, we don’t want to be in Formula One just to make up the numbers.”

It is believed that all current teams must provide technical support to all newcomers until the budget cap is reduced in 2011.

The Williams team were suspended from the Formula One Team Association on Wednesday when it was confirmed that they had submitted their entry to the 2010 championship, breaking a united front against the governing body.  The statement from FOTA read;

“Following Monday’s confirmation that the team has submitted its formal entry…the Formula One Teams Association has today decided temporarily to suspend Williams F1 from membership of FOTA,” the team said in a statement.”

Frank Williams, head of the Williams team accepted their decision and said;

“However, as a racing team and a company whose only business is Formula One, with obligations to our partners and our employees, submitting our entry to next year’s Championship was unquestionable.

“In addition, we are legally obliged under our contract with FOM (Formula One Management) and the FIA (International Automobile Federation) to participate in the World Championship until the end of 2012.”

Although no figures have been confirmed as yet for the budget cap for 2010, it is believed to be twice the 40 million pound that the FIA were hoping to introduce.

The ball is now firmly in the court of the FIA, they could of course reject the conditions set by FOTA, which could then see the teams walk away from Formula One, or FOTA could add further conditions, it’s any one’s guess at this stage, however, the official entry list for 2010 is to be published on June 12th.