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Formula One
F1: Could Toyota Pull-Out Come Soon?
Japanese media is reporting that Toyota has already decided to pull the plug on its 2010 Formula One program...
Adam Cooper  | http://www.speedtv.com  |  Posted November 03, 2009   Balen (BEL)
Toyota has no drivers in its stable after deals were rejected by the likes of Kimi Raikkonen and Robert Kubica. (Photo: LAT Photographic)
The Japanese media is reporting that Toyota's executive board has already decided to pull the plug on its Formula One program. An official announcement could come down in a press conference late on Wednesday afternoon - Tokyo, Japan time (GMT +9 hours).

It’s been widely understood that the carmaker holds its end-of-year board meeting, scheduled for November 15 this year, which ostensibly is to approve - or not - the F1 budget for 2010. However, it seems that the decision has already been made - all but pre-empting the annual meeting.

Toyota does not have any drivers contracted for next year, having had its advances rejected by the likes of Kimi Raikkonen and Robert Kubica. Heikki Kovalainen and Kamui Kobayashi had emerged as the most likely candidates; and indeed the sudden performance out of the Japanese rookie as a contender was seen by many as a major Public Relations boost.

The big difference between Toyota and the earlier withdrawals of Honda and BMW is that it is highly unlikely that the team can continue under new ownership. The others were independent teams that were bought by manufacturers and therefore could be ‘privatized’ once again. However, Toyota was established and built up on just part of a huge site that the company owns in Cologne, Germany - making it extremely hard for it to be sold.

However, it would be possible to scale down the motorsport operation and run sportscar, touring car or rally programs from a portion of the current facility.
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