New regulations for the 2010 Formula One season have been approved by the F1 commission. The two new regulations are concerning tires and the points system.

On the 30Th of January in Valencia, Spain the F1 fan-base is set to witness something entirely new to F1, a common all team official car launch. Spanish media report that the event will likely take place at the Ciudad de las Artes y de las Ciencias (City of the Arts and Sciences) complex in Valencia on January 30, 2010. The idea was backed by most teams after discussion during the last day of the Motor Sport Business Forum in Monaco. Comments from new 2010 F1 entrants Lotus however, are adding fuel to the speculation that some teams may not be ready.

It has been reported by ‘Autosprint’ that Luca Di Montezemolo is likely to step down as President of FOTA (Formula One Team Association), at the end of the year. Ferrari President, Di Montezemolo, has been FOTA President since July 2008 when the organization was formed. It is understood that he wants to concentrate on his role with Ferrari and FIAT. Di Montezemolo said to the magazine: “I took up the president role because I felt it was good to have teams competing on the track, and talking out of it like sports professionals. This is what we did. However, I have another job and I can’t do everything. So, I really think that I will step down at the end of the year.”