A dozen new teams lodge bids to enter F1

Whatever the outcome of the standoff between the Formula One Teams Association and the FIA, it was clear from the get-go that F1 was to change dramatically. As it turned out, the two parties - the first representing the teams currently participating in the sport and the second its governing body - have apparently reconciled their differences.
But as it turns out, even if all of the existing teams walked, the FIA would still have had a field of eager teams ready to take their place - that's one heck of a bargaining chip. One way or another, all indications are that the cost of running an F1 team will be drastically reduced in the near future, starting with next season. Lower costs mean easier access, and teams have been lining up by the dozen to take part in the new, more accessibly Formula One. Follow the jump to read all about 'em.