Lola withdraws F1 bid
Lola has decided to withdraw its bid to enter Formula One. Even though the company was not among the 3 new teams to enter, it was asked to stand-by if another position would become vacant the near future.
Lola issues the following statement: "Lola F1 Team Ltd has today advised the FIA of the decision to withdraw its application to enter the 2010 FIA Formula One World Championship."
"Significant financial investment has been made in producing its 2010 contender and the FIA had requested that the Lola F1 Team remain in a state of readiness for a possible future entry."
"Lola F1 Team has thanked the FIA for giving its application to enter the 2010 FIA Formula One World Championship serious consideration."
