BMW Sauber takes Toyota's place in F1

PARIS -- The BMW Sauber Formula One team has been awarded the 13th entry in the 2010 world championship.

Formula One's governing body said Thursday in a statement that BMW Sauber will take the place of the departing Toyota team "subject to their signing the Concorde Agreement."

German car maker BMW agreed last month to sell its Formula One team to previous owner Peter Sauber, provided the team gets a place on the grid next season.

BMW announced in July that it would pull out of Formula One at the end of the season, citing the global economic downturn.