Yet Another Possible F1 entry...?

http://www.autosport.com/news/report.php/id/75305

"Formula 3 team Litespeed has announced its intention to apply for an entry to the 2010 Formula 1 world championship under the new budget cap rules.

The team has joined forces with MGI Ltd, whose managing director is former F1 technical director Mike Gascoyne, and is hoping to be one of the 13 teams chosen for the new championship.

Team boss Nino Judge admitted he is not even sure the current budget cap rules will stay on, but he reckons it is the best moment to enter Formula 1.

"We don't yet know whether the cap team rules will be changed, and obviously we don't know if our application will be accepted," said Judge.

"The cap may be dropped altogether. The point is that there is not much time for the project to get on to the 2010 grid and we have to take some risks in order to maximise time for preparation.

"Potentially, there will never be a better time to enter the F1 arena. "The FIA has so far not only been bold in introducing the budget cap, but has evidently thought out the long-term prospects of this globally captivating sport.

"There is space and a need in the arena for independent teams and the technical leeway given to the budget-capped teams allows for a competitive performance within the financial parameters."

Applications for the 2010 championship close on May 29, and the FIA will announce the successful applicants on June 12.

Judge said his team would have a schemed F1 chassis by mid-June.

"In times of crisis we hope that fortune will favour the brave," added Judge. "Despite the potential backlash - which has become a reality - the FIA was not afraid to introduce pioneering measures to ensure the future of F1.

"We are confident that the FIA / FOTA will find a swift compromise, which is good for F1 and that allows new teams, like ours, to enter. As an innovative, cost-efficient and engineering based organisation, the budget cap initiatives fit with the very ethos of Litespeed GP, which is why now is the right time for us to make this announcement."

Litespeed joined the British F3 field in the middle of the 2008 season, having bought the rights to the SLC chassis used in the Euro Series in 2005.

The team has worked to develop the unique design in the National class, with limited success so far, but also recently announced that it would run Jay Bridger's Championship class Mygale for the rest of 2009."

[yodasarmpit]

Why limit it to 13 teams, if there are 20 teams able to meet budget requirements, who wish to play, let them all joint.
40 car grid anyone :)

[Firstgear]

Why limit it to 13 teams...

I don't think the tracks have enough room in the pit lanes for 20 teams.

[yodasarmpit]

I don't think the tracks have enough room in the pit lanes for 20 teams.

I didn't think about the pits, that would certainly be an issue.

[foxystoat]

Plus the TV money would get diluted even more.Personally let them turn up like they used to the fastest 26 in quali make the grid for the race !

[CNR]

http://en.wikipedia.org/wiki/Formula_One_racing

Pre-qualifying
In the late 1980s and early 1990s the number of cars attempting to enter each race was as high as 39 for some races. Because of the dangers of having so many cars on the track at the same time, a pre-qualifying session was introduced for the teams with the worst record over the previous 6 months, including all new teams. Only the four fastest cars from this session were then allowed into the qualifying session proper, where 30 cars competed for 26 places on the starting grid for the race. The slowest cars from the pre-qualifying session were listed in race results as 'Did Not Pre-Qualify' (DNPQ). Pre-qualifying was discontinued after 1992 when many small teams withdrew from the sport.

[truefan72]

so next year we would have no Ferrari, Renault, RBR, STR, Toyota, BMW, and possibly Mclaren, and in their place we get formula 3 teams and other cheap teams.

Just great.

We'll get a grid of the best cars, little money can buy. Driving around tracks nobody cares for and fans being charged absurd ticket prices.

As a side note, are these teams being charged the $48 entrance fee bond?
and can we expect the super license to increase by another 2500%

[foxystoat]

Formula 1 has become too eliteist over the last 10 to 15 years with the major manufacturers taking over all the independant teams & throwing absurd amounts of money at it, Only Williams has survived. Tyrell became BAR then Honda. Benetton became Renault ,Sauber is now BMW .Toyota started from scratch. Yes it is nice to have the big names involved but not at the expense of all the independants. I hope they set the cap at 100mil & everyone agrees to it with no 2 tier system & we get some new independant cars on the grid with 26 cars instead of 20 with all current teams staying.
If you can't produce 2 cars to do 17 races with 100 mill there's something wrong ,3 new additional teams will be like a breath of fresh air.

[Valve Bounce]

And the team will be known as Lightburn. The new F1 cars are already undergoing secret tests in outback Australia, and was photographed by one of our photographers AJC : http://img.photobucket.com/albums/v283/king-david/lightburn-zeta-1964-1.jpg

[Easy Drifter]

I am in negotiations with a top designer/driver. He designed the winning 2008 Port McNicoll Soapbox Derby winner and drove it too.
Should be a certain winner in the new F1.

[V12]

F3 teams will probably be better placed to make any sort of step up than GP2 teams to be honest, since they are more likely to have experience in developing a car rather than having to stick with the spec junk you get in GP2 and pretty much every other "formula" these days.

I'm filing this (like pretty much every other prospective entry) in the "believe it when I see it" category - but the best of luck to them :up:

[Knock-on]

As a side note, are these teams being charged the $48 entrance fee bond?
and can we expect the super license to increase by another 2500%

Apparently $48 was considered a bit too steep so they negiotiated it down to a piece of chewed bubblegum and a 29er Conker.

Suddenly everyone and their dog wants to play and apparently can design a chassis within a month.

The chances of them getting anything to a race next year is about the same as me winning next years WDC in my Super 7.

Actually, I've got more chance :D

[UltimateDanGTR]

If the manurfacturer teams are unhappy, let them go. Then all teams can run cheaply, we can have independent teams, And manier gp2 and F3 teams will be able to join the ranks and stay there, then we will see proper teams properly racing. sod renault, toyota, red bull and ferrari, if they are unhappy-who cares? let great little teams like litespeed come in (although i doubt theyd have a chance) let USF1, Prodrive, Lola, Supernova, ART, iSport, Penske, Racing Engineering etc come in. who needs manurfacturer teams?

Ill put it this way for next season now:

what do you want: 20 car fields with half of them Manurfcturers, or 28-30 entrants who most are indpendent? I vote option 2.

Im all for litespeed, although 2 years then into F1-Not sure about that, but let them have a go! tat ta Manurfacturers-fom now on stick to engines only!