Epsilon aims to prove financial backing to FIA

Fri, 7 May 2010, 10:01

May 7 (GMM) Epsilon Euskadi’s next step towards the formula one grid is to prove its ability to contest more than just a single season.

The fact that FIA president Jean Todt, and not a delegation of more junior officials, intended to visit the hopeful outfit’s base earlier this week is a sign that the team is favoured to win the 13th place on the 2011 grid.

It is believed Todt is already convinced of the team’s technical abilities to organise a credible F1 team, but the FIA is also keen to ensure that new competitors are financially capable.

“We are working to find the necessary finances,” team boss Joan Villadelprat is quoted as saying by France’s Auto Hebdo.

“We have the budget for 2011 but not thereafter,” he added in the Barcelona paddock. “However, a new team needs at least four seasons to be competitive.

“I intend to prove to the FIA that we have a strong economic foundation that would allow us to stay in F1 for consecutive years,” he added.

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