Full Throttle

BBC Sports seems to think so:

Formula One’s ruling body the FIA has decided which 12 teams will compete in the championship in 2008.
It is expected that the 11 existing teams will all take part despite the continuing discord over the future of the sport.

The FIA has also chosen a new team to join the grid in 2008.

The Prodrive company, run by former BAR and Benetton boss David Richards, has been tipped as the likely winner when the announcement is made next week.

Five carmakers had threatened to form a breakaway series from 2008 if they were not granted a greater share of F1’s profits and a bigger say in how the sport was run.

But Renault, BMW, Mercedes, Toyota and Honda have all entered, even though they have failed to agree a new commercial deal with the FIA.

A total of 11 new teams applied for enterence to F1 in 2008. Richards says he has been told that the formal announcement will come next Friday and “we await that with bated breath.”

As we all do.

F1, ProDrive, FIA, formula One, Auto Racing, Motorsports, Full Throttle