Prodrive says no to F1 bid for 2011 (GMM) Prodrive has not launched a new bid to enter formula one.
Thursday was the deadline for potential teams to register interest with the FIA for the 2011 selection process.
But despite Prodrive wanting to secure a grid spot in previous years, David Richards' company issued a statement saying it will instead concentrate on the world rally championship and sportscar racing.
He said the decision is basically due to finances.
"Taking on the challenge of starting a brand new formula one team, finding the necessary funding and developing the car from scratch is a massive undertaking and not to be underestimated," said Richards.
He does not rule out making a grand prix bid in the future, insisting "we will keep a close eye on developments".
On Thursday, Stefan GP did not respond to an enquiry about whether the Serbian outfit had met the FIA's April 15 deadline.
Copyright 1999-2014 | AutoRacing1 is an
independent internet online publication and is not affiliated with, sponsored by, or endorsed
by IndyCar, NASCAR, FIA, Sprint, or any other series sponsor.
This material may not be published, broadcast, or redistributed without