Interview: Richards not rushing F1 plans

Richards, who has had previous spells as team principal at Benetton and BAR, believes it is vital his team take a considered approach towards their F1 graduation in a bid to make the most of the opportunity given to them by a radical shake of regulations.

Speaking to autosport.com from Prodrive's factory in Banbury on Friday, Richards made it clear that the team were completely open-minded about the way they were going to approach Grand Prix racing.

"We are going to be very cautious over the next few months," he said. "The technical regulations are going to be confirmed in two months' times and, although there is no reason to believe they will be much different from where we are today, we need to carefully understand them to see where the resources are best placed.

"I look at this as an opportunity, and if it wasn't for the new regulations coming for 2008 then I would not have put the entry in."

A radical overhaul of F1's regulations for 2008 means the teams have the option of either building their own car from scratch or running customer chassis. Richards said he was undecided yet about which way to go.

"As you rightly perceive, there are several options open to teams," explained Richards. "I think it is better to wait for the next couple of months and see what surprises there are before we nail our flag to the mast.

"At the moment we have to consider the things with the longest lead times. We are not going to rush out there and start hiring people - that would be inappropriate."

Although Richards has held talks with Cosworth about an engine supply deal for 2008, and is due for a further meeting with the engine-builder's owner Kevin Kalkhoven next week, he has not ruled out the possibility of manufacturer backing.

"Clearly there will be a Prodrive team, just as there is a McLaren and a Williams team, and those teams have often had close relationships with manufacturers. That would be my desired route.

"We have had approaches from two or three manufacturers over the last 18 months saying that if we got an entry would we then like to go and speak to them. So let's see if they are still standing there now."

Prodrive had emerged as the clear favourites for the 12th entry almost as soon as they went public with their application, but Richards makes it clear he never thought they would automatically get in.

"We had looked at the whole thing quite practically. We did a lot of homework and clearly I would have been disappointed if it had not been us, but on the other hand we had no god given right to it. So we are obviously very pleased.

"I had a meeting with the staff yesterday to inform them, and we are looking forward to it - although with a bit of apprehension.

"The easy bit was getting the entry. It is going to be more difficult rolling the sleeves up and delivering on the great challenge ahead."