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Lola eyeing Formula One entry
Lola says it is ready to join the Formula One grid if the FIA reopens the bidding for a 13th team.
Having been one of the teams to initially apply for a place under the budget capped regulations for the 2010 season, Lola decided against renewing its bid when the cap was scrapped. At the time managing director Robin Brundle said "Lola looks forward to strengthening its working partnerships with existing F1 Teams and the rich variety of customers throughout the Lola portfolio".
However, Brundle now says that Lola has since diversified away from motorsport and is in position to use a Formula One program to boost brand awareness.
"We're ready and waiting," Brundle is quoted by Autoweek. "Motorsport is a third of our business, and we're happy to expand in any direction. We're on schedule to hit a turnover of [$40 million] this year, and within five years, we expect to top [$77 million]. But a Formula One program will take us up by tens of millions.
"We've retained the capability. We can do everything in one building, and we're hopeful that, if the FIA bring back the 13th license, we can bid for it. We'd need to finalize an engine partner so we can design the back of the car when the new engine regulations come [in 2014], but we're ready for it."