It is hoped that privateer teams will flourish in the new cost-controlled era – encouraged by the performance of Brawn GP

A great name in Formula One, Cosworth, is set to return to the sport after a hiatus of five years.

During the 1970s and '80s, F1 was predominently powered by Cosworth engines, as teams used the groundbreaking DFV engine to package their cars around. With a proposed budget cap (which is highly controversial) in F1 for 2010, four new teams have signed up to join the sport, with USF1 leading the way with its Cosworth powered effort.

It is hoped that privateer teams will flourish in the new cost-controlled era – encouraged by the performance of Brawn GP. Cosworth has retained a team of engineers to work on F1 engines, despite being out of the sport, and it is confident that its new power unit for 2010 will be on the pace of its big-buget car manufacturer rivals.

The emergence of Cosworth and the independents is good news for a sport on the verge of losing further manufacturer teams, following Honda's pull-out at the end of 2008. USF1 team principle Peter Windsor confirmed at the Monaco Grand Prix this that his team has filed an entry for the 2010 season and paid a deposit for a Cosworth engine lease deal.