Prodrive bid to join F1 ranks

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The team become the third prospective new entrant for 2010 following in the wake of Campos Meta 1 and Team US F1.

"We are very appreciative of the support we have been given in putting together our entry, not least by both the FIA and FOM (Bernie Ecclestone's Formula One Management)," said former BAR team boss and current Prodrive chairman David Richards.

"With the help of Dar Capital in raising the finance, coupled with our understanding of the latest proposals to assist new teams, we now feel the conditions are right to formally request the FIA for an entry."

Dar Capital is a Kuwaiti finance, logistics and property company that formed the backbone of the Richards-led consortium that paid £600million for a majority stake in Aston Martin in 2007.

It is understood the team will operate under the Prodrive name for next season and potentially 2011, before switching to Aston Martin branding from 2012.

Lola, who last competed in F1 in 1993, are also understood to have lodged their entry.