Former World Touring Car Championship front-runner N.Technology has emerged as another contender to join the Formula 1 starting grid in 2010 under FIA President Max Mosley's controversial budget cap initiative - with its challenge to be spearheaded by Formula Master series founder Mauro Sipsz.

N.Technology competed in the WTCC from 2006 to 2008, finishing third in the drivers' title chase with Augusto Farfus in the first of those years and in the same position with James Thompson in 2007, on both occasions fielding an Alfa Romeo 156.

After switching to a Honda Accord last season, double British Touring Car Champion Thompson triumphed at Imola but was forced to miss three other rounds en route to a lowly 15th in the final standings, following which the team went into liquidation in January of this year when a takeover agreement with Campos Racing fell through.

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The squad's tally from its three campaigns of WTCC participation totalled six victories and nine further rostrum finishes, but it has now seemingly risen from the ashes with the Italian MSC organisation revealing that it has submitted an F1 entry bid for 2010 under the N.Technology banner.

The outfit would be run by erstwhile Eurosport CEO Angelo Codignoni and Sipsz, founder of Formula Master and the man who used to run N.Technology's WTCC effort. Another prominent team member is understood to be Trident GP2 Series boss Alessandro Alunni Bravi.

Other newcomers to have made applications include Prodrive/Aston Martin, Lola, Team USF1, Campos Meta 1, Team Superfund, Lightspeed GP, March and Formtech/Brabham. The FIA is due to publish the identities of those successful candidates to fill the 26 available places - 13 two-car teams - on 12 June.