RML explains why it did not submit F1 entry

Ray Mallock Ltd (RML) has revealed that its failure to submit an entry into Formula 1’s new ‘low-cost’, budget-capped era in 2010 was prompted by the ongoing ‘uncertainty’ over the exact details regarding the cap – but it has refused to rule out graduation to the top flight at a later stage.

‘During the last ten weeks, RML Group have evaluated the exciting opportunity offered by the FIA to potential new Formula 1 entrants, and prepared an application to join the FIA Formula 1 World Championship in 2010,’ read an official statement.

‘Our analysis indicated that the technical and financial regulations as published by the FIA on 30 April were extremely well-suited to our organization, whose attributes have attracted many motor manufacturers to partner with RML over the past 25 years and yielded numerous international and national sportscar, touring car and rally championships. In this process, we also enjoyed significant interest from prospective partners attracted by the FIA’s proposed changes.

‘However, the recent uncertainty regarding the details of the application of the budget cap and participation of the other teams and manufacturers has meant that we were not in a position to lodge an entry prior to the 29 May deadline. Nevertheless, RML remain open to participating in Formula 1 in the future and will monitor developments closely. In the meantime, we wish to express our appreciation for the efforts of the FIA and Formula One Management to create the conditions for a new approach to grand prix racing and secure the future of the sport.’