Mike Stevens | Dec 4, 2009

AFTER BUYING HIS team back from BMW last month, Peter Sauber has secured the final slot on the 2010 Formula 1 grid.

Sauber's entry was approved after Toyota confirmed at the end of the season that it would quit F1, leaving a vacant spot in the next season's team list.

"This is excellent news for the workforce in Hinwil," Sauber told Autosport.

"After many weeks of uncertainty, we have finally secured our place on the grid for 2010. Now we can enter into concrete negotiations with drivers and sponsors."

A statement issued by the FIA said: "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."

"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."

Sauber is believed to be negotiating an engine supply deal with Ferrari, with Giancarlo Fisichella to steer one of its two cars.

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