Prodrive confirms F1 no-go for 2008

(GMM) David Richards on Friday confirmed in a statement that Prodrive will not make its formula one debut as planned in 2008.

The Briton had told the German magazine Auto Motor und Sport on Thursday that threatened legal challenges and the stalled Concorde Agreement had ruined his company's plans to become the twelfth and final team next year.

"The team still hopes to enter the championship at some future date," the statement provided by Banbury-based Prodrive said on Friday.