30 May 2009

Ferrari and F1 newcomers sign up for 2010

8:02 am on 30 May 2009

The prospect of Ferrari pulling out of Formula One motor racing has disappeared with the champions joining all the other current teams in signing up conditionally for next season.

Several would-be newcomers, including former competitors Lola and a Kuwaiti-financed Prodrive entry that could ultimately appear as an Aston Martin team, also applied to race against them.

But there are conditions on the teams who make up the Formula One Teams Association competing.

Led by Ferrari president Luca di Montezemolo, FOTA is demanding that next year's regulations be based on the 2009 rules, amended with proposals FOTA has submitted to the governing International Automobile Federation, the FIA.

The FIA had wanted to introduce an optional $100 million budget cap next year.