Toyota pledge quells pull-out fears

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Toyota have long been rumoured, along with BMW Sauber and Renault, to be quitting F1 at the end of this season due to the spiralling costs, but Toyota on Friday joined eight other current F1 teams in lodging a block entry to compete in 2010, and beyond, through to 2012.

"It is Toyota's sincere wish to be part of Formula One in 2010, and the conditions attached to our entry, if agreed, would enable us to commit to the sport until the end of 2012," confirmed Howett.

"As explained in the FOTA statement, our entry is conditional upon the specific conditions which have been outlined being satisfied."

Toyota, along with Ferrari, McLaren, BMW Sauber, Renault, Red Bull Racing, Toro Rosso, Brawn GP and Force India, have provided a firm undertaking to sign up for another three years - with conditions.

"We are optimistic we can work productively with the Federation to build a solid foundation for the future of Formula One, based on lasting stability and sound governance," Howett added.

The Formula One Teams' Association are demanding the basis of the 2010 regulations be this year's rules. In essence it means there would be no voluntary £40million budget cap as originally stipulated by FIA president Max Mosley.

As FOTA stated, they have "unanimously agreed further and significant actions to substantially reduce the costs of competing in the championship in the next three years."

They feel that would "create a mechanism that will preserve the technological competition and the sporting challenge and, at the same time, facilitate the entry in the championship for new teams."