Lola will not apply for 2011 F1 entry

The company joins Prodrive in deciding not to apply for a slot for next year, feeling there is not sufficient time to be ready for the start of the season.

Lola applied for an entry for this year, but the Huntingdon-based squad wasn't granted one.

The deadline to submit a formal expression of interest expired today.

"A 2010 entry under the cost capped and performance balanced criteria was perfect for Lola," said Lola owner Martin Birrane.

"We already have F1 standard facilities at our headquarters in Huntingdon. Sadly our well-developed 2010 F1 project, which included a significant wind tunnel programme, had to be frozen in June 2009.

"The recently announced applications for 2011 has left us with insufficient time to prepare for what would be a quite different programme."

Lola's managing director Robin Brundle added: "Lola looks forward to strengthening its working partnerships with existing F1 Teams and the rich variety of customers throughout the Lola portfolio."