Sauber will compete in the 2010 FIA F1 World Championship after the FIA, the sports governing body, confirmed today that the squad has been successful in its application for an entry.
Founder Peter Sauber completed a deal to buy the team back from BMW last week after negotiations with the Qadbak Investment group broke down.
"The FIA has written to inform BMW Sauber AG that their application for an entry in the 2010 FIA Formula One World Championship has been successful," read a statement published by the FIA. "Subject to their signing the Concorde Agreement, BMW Sauber will be awarded the 13th entry in the Championship, taking the place of the departing Toyota team.
"The FIA has worked closely with the Commercial Rights Holder and the teams involved over recent weeks and is grateful for their support in achieving the best outcome for the sport.
"An updated Formula One entry list will be published in due course."
As many as seven drivers are believed to be under serious consideration for the two race seats at Sauber, with long-time McLaren-Mercedes test driver Pedro de la Rosa and well-backed GP2 Series graduate Vitaly Petrov believed to be in with the strongest chance.
BMW-Sauber favourite Nick Heidfeld, Toyota refugee Jarno Trulli, Lewis Hamilton's former McLaren team-mate Heikki Kovalainen, out-of-work ex-BMW test driver Christian Klien and star 2009 debutant Kamui Kobayashi are also said to be possibilities.