British company Lola are considering a return to next year’s newly streamlined Formula One World Championship.
The Huntingdon-based motorsport specialists have not been involved since the failure of their works team in 1997, but the cost-cutting measures set to be implemented for 2010 have tempted them to reconsider.
"The announcement that Formula One teams may opt for a prudent, financially responsible cost-capped regime from 2010 has resulted in us deciding to fully evaluate the opportunity to develop a car to compete in the FIA Formula One World Championship," said Lola Group executive chairman Martin Birrane.
Lola were a consistent presence in the Formula One paddock from the 1960s, and they have entered discussions with several parties over the development of a car for next year.
They are well positioned to design and build a car and Lola also possess key facilities such as a wind tunnel.
"The current necessity for Formula One to adopt a responsible approach in times of economic uncertainty has created the ideal conditions for us to consider developing a car for the world championship," added Birrane, who bought the group in 1997.
"Lola possesses the technical resources, capability and know-how to develop cars capable of competing at the very highest levels of international motor sport, including Formula One."