David Richards has insisted that there is unlikely to be any announcement until the end of the week on whether or not Prodrive/Aston Martin will submit a bid to enter Formula 1 in the top flight's new 'low-cost', budget-capped era in 2010.

The stipulated deadline for all applications to be made is 29 May (Friday), and though three teams - Williams, USF1 and Campos Meta 1 - have all already lodged their paperwork with the FIA, the ongoing stand-off between the governing body and the Formula One Teams' Association (FOTA) over Max Mosley's controversial ?40 million budget cap means many of the present incumbents may let the date come and go.

Whilst the new regulations might on the surface seem tailor-made for an independent organisation like that of Richards, the former World Rally Championship-winning co-driver reveals that he too will be holding fire for as long as there is continuing political infighting and uncertainty regarding the 2010 rules.

Three months of preparations - including chassis design - have already taken place for what is expected to be a UAE-branded or backed project, but for the time being at least, former Benetton and BAR-Honda team principal Richards is subscribing to the mantra that patience is a virtue.

"Everything depends now on two questions," the 56-year-old Welshman told German magazine Auto Motor und Sport. "Will the new rules permit us to enter with a chance of sporting success, and are there the basic financial conditions that would allow a new team to have a lasting and practical business model?

"We are going to wait until the last minute and see what happens. Shortly before the end of the registration period for the 2010 season, board meetings take place at Aston Martin and Prodrive. Then we will decide."

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