Lola team chief Eric Broadley predicted that his team will be the other newcomer in Formula One Stewart this season. He said: "We can beat them and we certainly should beat them. If we don't beat them, then we deserve to be given a good kick up the backside. With our experience and back-up, it should be no problem."

He also wishes to outpace World Champion Damon Hill in the TWR-Arrows: "They will certainly be a benchmark for us."

Lola will use a Ford V8 for the first part of the season but hopes to introduce their own V10 as soon as possible. Broadley said they would have a budget of 35 million this year.

Broadley added: "It is exciting for us to be involved in Formula One, but we are not going into it with over-optimistic expectations. If we get any podium finishes this year, I think it will be down to luck."

The new car will not be unveiled within 3 weeks from now. It was first expected that Lola would drive with Goodyear tyres but they now have signed a deal with Bridgestone.