D- Day and a (supposed) New Budget Cap
Finally it seems the war is over, hopefully anyhow. Throughout the evening, there have been numerous reports that the budget cap of £40 million has now been raised to £85 million, and that the objecting teams should be on the grid for 2010.
A £40 million budget cap is expected to be introduced the following year, at the start of the 2011 season; a year later than what was originally hoped for by the FIA and Max Mosley.
All of the current Formula 1 teams have signed up for the 2010 season, and they are also to sign a new Concorde agreement prior to the 12th of June.
The current teams entries currently take priority, I believe, over the teams who submitted their entries earlier. Submitting their entry does not automatically guarantee that they have a place on the starting grid for next year.
In my opinion, the teams most likely to join Formula 1 in 2010 are Lola and Prodrive/Aston Martin. Lola, a Huntingdon-based comapny, were last seen in Formula 1 before the new millenium, in 1997.
Prodrive are a company many people have held respect for, having worked before in WRC, and with the prestige of the Aston Martin name, I certainly wouldn't say no to them.
Certainly at least one of these names is recognisable to people who aren't up to date with the motorsport world, so the FIA would most probably see that Lola and Prodrive/Aston Martin would have a much bigger fan base than say, Formtech.
The real question is whether any of the new teams will actually be able to impact upon the sport that is Formula 1.
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