Ferrari's threat to quit Formula One would appear to be over after they today joined seven other current teams in submitting a block conditional entry to compete in next year's Formula One world championship.

McLaren, BMW Sauber, Toyota, Renault, Red Bull Racing, Toro Rosso and Brawn GP have also confirmed their intention to compete in 2010, seemingly bringing an end to the recent civil war with the FIA over the voluntary budget cap. It is believed a cap of £85million has now been set before it settles at the £40m originally demanded by the FIA for 201.

Meanwhile, Prodrive have officially confirmed lodging an entry for next year's Formula One World Championship. The team have become the third prospective new entrant for 2010, joining Campos Meta 1 and Team US F1.