Lola withdraws from the 2010 championship race

Lola has decided to withdraw its application to enter Formula 1. This announcement follows the FIA’s decision not to grant the British team a spot on its initial list for 2010.

In a statement released on Tuesday, the company said: « Lola F1 Team Ltd today informed the FIA of its decision to withdraw its application for entry to the 2010 Formula 1 World Championship. »

« Significant financial investments were made for the submission of the application. The FIA had asked Lola F1 Team to remain ready for a possible entry into the championship. »

« Lola F1 Team thanks the FIA for carefully considering its application for the 2010 Formula 1 championship. »

Although Lola did not give any particular reason, it seems that the owner, Martin Birrane, is extremely disappointed not to have been automatically accepted on Friday, June 12th. He thought that the work undertaken and the efforts demonstrated by his company would grant him a legitimate place in 2010.

Birrane stated last weekend that his team was already well advanced in the design of its 2010 single-seater, but needed time to digest the failure of not being on the FIA list. He subsequently stated that he would make a final decision on his future, and this decision has been made today.