Formula One 2010 Car Racing Without Toyota?

Toyota is an active participant in Formula One Car Racing. F1 is considered to be the top auto racing in the world and it is a good place for companies like Toyota to show off their products. Association with this brings a lot of exposure for the brand name of the company too. Now, the company has stated that it is not sure whether they will participate in F1 event in 2010 or not.

Guardian reported:

Toyota will not enter next year's Formula One championship unless new rules published by the governing body are changed, motorsport president John Howett said on Saturday.

"If nothing changes, we won't be submitting an entry," he told Reuters at the Spanish Grand Prix when asked about a May 29 deadline.

"But I don't think that is a unique opinion among other competitors."

Howett is vice-chairman of the Formula One Teams' Association (FOTA) presided over by Ferrari's president Luca di Montezemolo, a firm critic of the governing body' plans to introduce an optional 40 million pound ($60.19 million) budget cap in 2010.

I am not expert on this type of auto racing. All I understand is that it will not be good for either Toyota or F1 Racing if this problem continues. I hope that a solution will come very quickly.