Lola have withdrawn their application to enter the 2010 Formula One world championship.
Huntingdon manufacturer pulls out of 2010 race
Lola have withdrawn their application to enter the 2010 Formula One Championship.
The Huntingdon-based company's decision comes five days after the announcement of the FIA's decision not to award them a place on the initial 2010 entry list.
The three new entrants for next year are US F1, Campos Grand Prix and Manor Grand Prix.
A statement from the team read: "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."
