Litespeed F3 team working with Gascoyne on F1 entry 14 May 2009
British Formula Three team Litespeed have announced plans to lodge an entry for the 2010 FIA Formula One World Championship under the recently-announced budget cap rules. Litespeed have engaged the services of MGI Ltd, headed by former Toyota and Force India technical director Mike Gascoyne.
Potentially, there will never be a better time to enter the F1 arena, said Litespeed team principal Nino Judge. The FIA has so far not only been bold in introducing the budget cap, but has evidently thought out the long-term prospects of this globally captivating sport. There is space and a need in the arena for independent teams and the technical leeway given to the budget-capped teams allows for a competitive performance within the financial parameters.
Commenting on Gascoynes involvement, Judge added: We are delighted that MGI is on board with us - their expertise, experience and understanding of potential pitfalls are invaluable to any team to which they put their name and professionalism. MGI will be working to Litespeeds brief and will act as technical consultants to the team.
Both Judge and Litespeed colleague Steve Kenchington have previous Formula One experience. Judge worked in aerodynamics and structure testing for Lotus from 1989-91, whilst Kenchington was responsible for control systems at Lotus Engineering for 21 years and was one of the originators of their active suspension system.
With 13 slots available, entries for the 2010 championship must be lodged by May 29. Confirmation of the successful teams will be announced by the FIA on June 12, by which time Litespeed say they will have a fully schemed F1 chassis.