23 Apr 2009

Lola shows interest in returning to F1

6:22 pm on 23 April 2009

Lola are considering entering the Formula One championship next year now that the sport has moved to slash costs.

Lola say they've commenced a major project comprising a full technical, operational and financial evaluation aimed at developing a car to compete in the FIA Formula One World Championship.

Lola provided chassis for various Formula One teams from the 1960s before making an abortive entry under their own name in 1997.

Formula One's governing body, the International Automobile Federation (FIA), said last month it wanted teams to be able to compete in Formula One with an annual budget of around 80 million dollars.

Lola say they've already appointed new staff and assigned top engineers to the Formula One project and could make a formal entry in the coming weeks.