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WMUCarGuy · 11-24-2007, 12:14 AM

Prodrive has dropped its plans to enter the Formula 1 world championship next season due to a legal challenge and continued uncertainty over the eligibility of customer cars.

Former Benetton and BAR team principal David Richards had intended to join F1 in 2008 with his own Banbury-based company by taking advantage of new rules designed to make the sport more affordable for independent teams.

But the FIA’s plans to allow teams to buy complete cars now seem to be holed below the waterline due to concerns about the implications for manufacturer teams and, especially, independent constructors such as Williams.

The Grove outfit has threatened to take legal action over Prodrive’s plans to race customer McLaren-Mercedes next year, while F1’s commercial supremo Bernie Ecclestone recently appeared to suggest that the whole concept had been misconceived.

Against that uncertain backdrop, and the fact that a new Concorde Agreement to govern the sport has still not been agreed, Prodrive has decided to put its F1 ambitions on hold.

“Prodrive has always been committed to competing in Formula 1 with what has become known as a ‘customer car’,” the company said in a statement.

“It has been well known that our entry was made on this basis and that our entire business model was built upon this premise.

“Over the past 18 months we have put considerable effort into securing an agreement for the supply of cars and engines from McLaren and Mercedes, as well as financial backing from a partner new to the sport.

“It was therefore particularly disappointing to face a last minute legal challenge to our entry, when our plans have been public knowledge for over a year.

“This legal challenge and continuing delays to the new ‘Concorde Agreement’ represent a fundamental change in circumstances.

“Therefore we must now realistically rule out the possibility of Prodrive being on the grid in 2008.”

Prodrive says it has not abandoned its hopes of entering F1 at a later date, once the sport’s regulatory framework is clearer.

“It is, however, still our ambition to compete in Formula 1 and we are hopeful that a new ‘Concorde Agreement’ between the FIA, FOA and the teams will provide clarity as to the terms on which this might be possible,” the statement said.

“When this new agreement is reached, we will be in a position to consider the extent to which we can adapt our plans for participation in the future.” (ITV)

11-24-2007, 12:14 AM	#1 (permalink)
WMUCarGuy Senior Member Join Date: Nov 2007 Location: Torrance, CA Posts: 356	Prodrive drops plans for 08 F1 Entry Prodrive has dropped its plans to enter the Formula 1 world championship next season due to a legal challenge and continued uncertainty over the eligibility of customer cars. Former Benetton and BAR team principal David Richards had intended to join F1 in 2008 with his own Banbury-based company by taking advantage of new rules designed to make the sport more affordable for independent teams. But the FIA’s plans to allow teams to buy complete cars now seem to be holed below the waterline due to concerns about the implications for manufacturer teams and, especially, independent constructors such as Williams. The Grove outfit has threatened to take legal action over Prodrive’s plans to race customer McLaren-Mercedes next year, while F1’s commercial supremo Bernie Ecclestone recently appeared to suggest that the whole concept had been misconceived. Against that uncertain backdrop, and the fact that a new Concorde Agreement to govern the sport has still not been agreed, Prodrive has decided to put its F1 ambitions on hold. “Prodrive has always been committed to competing in Formula 1 with what has become known as a ‘customer car’,” the company said in a statement. “It has been well known that our entry was made on this basis and that our entire business model was built upon this premise. “Over the past 18 months we have put considerable effort into securing an agreement for the supply of cars and engines from McLaren and Mercedes, as well as financial backing from a partner new to the sport. “It was therefore particularly disappointing to face a last minute legal challenge to our entry, when our plans have been public knowledge for over a year. “This legal challenge and continuing delays to the new ‘Concorde Agreement’ represent a fundamental change in circumstances. “Therefore we must now realistically rule out the possibility of Prodrive being on the grid in 2008.” Prodrive says it has not abandoned its hopes of entering F1 at a later date, once the sport’s regulatory framework is clearer. “It is, however, still our ambition to compete in Formula 1 and we are hopeful that a new ‘Concorde Agreement’ between the FIA, FOA and the teams will provide clarity as to the terms on which this might be possible,” the statement said. “When this new agreement is reached, we will be in a position to consider the extent to which we can adapt our plans for participation in the future.” (ITV)