British race car manufacturer Lola Group has issued an important press release on Wednesday morning that will hugely disappoint FIA’s president Max Mosley who wanted to attract new teams with the implementation of the infamous budget cap.
The release says “Lola F1 Team Ltd has today advised the FIA of the decision to withdraw its application to enter the 2010 FIA Formula One World Championship.
Significant financial investment has been made in producing its 2010 contender and the FIA had requested that the Lola F1 Team remain in a state of readiness for a possible future entry.
Lola F1 Team has thanked the FIA for giving its application to enter the 2010 FIA Formula One World Championship serious consideration.
No further comment will be made.”
The release says “Lola F1 Team Ltd has today advised the FIA of the decision to withdraw its application to enter the 2010 FIA Formula One World Championship.
Significant financial investment has been made in producing its 2010 contender and the FIA had requested that the Lola F1 Team remain in a state of readiness for a possible future entry.
Lola F1 Team has thanked the FIA for giving its application to enter the 2010 FIA Formula One World Championship serious consideration.
No further comment will be made.”