Lola has abandoned its plans to return to F1 after failing to secure a place on the initial 2010 entry list.
“Significant investment has been made in producing its 2010 contender,” said a statement from the company.
“The International Motorsport Federation (FIA) had requested that the Lola F1 Team remain in a state of readiness for a possible future entry.” BBC Sport
“Lola F1 Team has thanked the FIA for giving its application to enter the 2010 FIA Formula One World Championship serious consideration.
Click Here For More Formula 1 Photos
“No further comment will be made.” Sky Sports
Lola, a familiar name in F1 from the 1960s, provided cars for top line drivers such as Graham Hill, John Surtees and Alan Jones. It dropped out after failing to produce a new car for the 1998 season, when many teams were unable to keep up with the big-spending and dominant Ferrari, McLaren, Benetton and Williams teams.
After auto racing’s governing body ordered the teams to make big cuts to their spending for the 2010 season, Lola had hoped to return.
Now that won’t be the case. The Canadian Press
| 
|