Litespeed F3 Team Announces 2010 F1 Entry

While many teams, including Ferrari and Toyota, oppose FIA’s new budget cap and two-tier rules, others continue to announce plans to submit entries for the 2010 Formula One World Championship. Among the most recent teams to announce their plans is British Formula Three team Litespeed. The team approves not only the new budget cap, but also suggests that the FIA has “thought out the long-term prospects” of Formula One. Additionally, Litespeed said that the “technical leeway given to the budget-capped teams allows for a competitive performance within the financial parameters.”