Lola has pulled the plug on its planned return to Formula 1.
Passed over in the initial entry list last Friday, the team was thought to be a wild card to replace an existing entry if no solution could be reached with the FOTA squads.
Lola's omission was a bit of a surprise, given the organization seemed pretty far along in its development and was likely well funded.
Does Lola's decision mean, as some are speculating, Lola knows something about the negotiations we don't? That might be a leap.
The official statement:
Lola withdraw F1 application
Lola F1 Team Ltd has today advised the FIA of the decision to withdraw its application to enter the 2010 FIA Formula One World Championship.
Significant financial investment has been made in producing its 2010 contender and the FIA had requested that the Lola F1 Team remain in a state of readiness for a possible future entry.
Lola F1 Team has thanked the FIA for giving its application to enter the 2010 FIA Formula One World Championship serious consideration.
No further comment will be made.
Meanwhile, FOTA has sent a letter to Max Mosley, Bernie Ecclestone, and all members of the FIA World Council and Senate calling for a compromise.
The letter reiterated FOTA's key points in the dispute, while also asking for the entry deadline to be extended to July 1.
UPDATE: The FIA has since responded, in the form of a letter from Max Mosley. Mosley stands firm on the Friday deadline. It is possible we are inching toward a solution, but just as likely this power struggle is beyond resolution...
Autosport goes a little more in-depth on the Mosley response.
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