FOTA TEAMS SUBMIT F1 ENTRIES FOR 2010

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All the current Formula 1 teams have submitted their entries to the FIA for the 2010 championship, FOTA confirmed today.cThe Formula One Teams' Association said, however, that their entries were conditional on a new Concorde Agreement being signed by all parties before 12th June.


"The renewal of the Concorde Agreement will provide security for the future of the sport by binding all parties in a formal relationship that will ensure stability via sound governance," said FOTA in a statement.

The teams' body also said that the entries were conditional on the regulations being based on 2009 rules, "identical for all competitors and amended in accordance with proposals that FOTA has submitted to the FIA."

"All FOTA teams' entries for the 2010 FIA Formula One World Championship have been submitted today on the understanding that (a) all FOTA teams will be permitted to compete during the 2010 Formula One season on an identical regulatory basis and (b) that they may only be accepted as a whole," added the statement.

"All FOTA teams now look forward with optimism to collaborating proactively and productively with the FIA, with a view to establishing a solid foundation on which the future of a healthy and successful Formula One can be built, providing lasting stability and sound governance."

The FIA announced earlier this year the introduction of a budget cap system from the 2010 season. Those teams adhering to the system would get greater technical freedom, something that most FOTA teams have spoken against.