Toyota hoping speculation will end

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Toyota Motorsport boss John Howett feels his team's commitment to Formula One will end speculation regarding their future.

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, and the global crisis surrounding the car industry.

But Toyota on Friday joined eight other current F1 teams in lodging a block entry to compete in 2010, and beyond, through to 2012.

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.

"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.

"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."

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".

What FOTA are saying is Mosley's fear the sport would lose further teams following Honda's departure in December has effectively been negated.

Mosley has 10 teams - Williams signed up unconditionally on Monday - who have vowed to compete in a FIA-run F1 championship over the next three years, during which time they will continue to work on reducing costs to an acceptable level.

The second proviso is that all parties - the teams, FIA and Bernie Ecclestone's Formula One Management - sign a new Concorde Agreement before June 12.

The Agreement is a binding regulatory and commercial protocol which has governed the sport for the previous 25 years.

In this case it would include the re-formation of the F1 Commission which would see the FIA and teams working together on regulations.

Mosley's governance, and his unilateral imposition of the rules without consulting the teams, has been at the core of the war that has raged these past few weeks.

As FOTA added: "The renewal of the Concorde Agreement will provide security for the future of the sport by binding all parties in a formal relationship that will ensure stability via sound governance."

There are still bridges to be crossed, but the ball is now firmly in Mosley's court.