Announcement is due shortly - Fry

At the FOTA press conference, Nick Fry, CEO of the Brackley-based F1 team, declared that an announcement about the future of the team will follow shortly. Fry was not willing to go into details about the upcoming announcement.

Fry said: "There is an annoucement due shortly but that is all I can say for now. I think it is correct to say that our team has and will benefit from FOTA in the future in two ways; the first being the cost reductions which will help us enormously in the challenges the team will face in the next two or three years, and the second is the level of support that we have received from all of the other teams."

"I would like to say that on the day Honda withdrew from Formula One we received support from Luca di Montezemolo personally as well as Ron Dennis respectively."

Talking about the support of the FOTA, Fry said: "There has been an enourmous amount of activity behind the scenes and everyone on the stage here has helped us preserve our team so myself and Ross Brawn along with our 700 employees all thank them for that. So the answer is yes."