Australian Daniel Ricciardo set the pace on the final day of testing at Jerez, the British F3 champion, at the wheel of the Red Bull RB5, posting the fastest time of the week.

There is mounting speculation that Renault is on the verge of announcing its withdrawal from F1 with David Richards Prodrive taking over the team and its Enstone HQ.

Sauber will return to the F1 grid in 2010 in place of the departed Toyota team.

Red Bull Racing driver Daniel Ricciardo was the fastest driver on Thursday - the final official day of testing for Formula 1 teams in 2009. The Australian completed his fastest lap at Jerez in 1.17.418 and was over a second faster than anyone else in the South of Spain. Paul di Resta ended second as the Scotsman was testing behind the wheel of the Force India car.

The BMW Sauber Formula 1 team will remain in Formula 1 the FIA confirmed on Thursday evening. The team, when owned by BMW, did not enter the 2010 Formula 1 season at first but BMW came to an agreement with former owner Peter Sauber to continue the team.

The FIA has this afternoon confirmed that Sauber will line up on the grid in 2010 have been granted the slot vacated by Toyota.

Today's times from Jerez, the final day of testing in 2009

Andrew Benson blogs on the latest developments regarding the British Grand Prix and Renault's F1 future

Nick Heidfeld is positive to win himself a seat for next season. The German has said he expects to be racing in Formula 1 next season but at the moment nothing has been signed just yet. Heidfeld did admit he would love to join Mercedes in 2010.

Red Bull's young talent driver Daniel Ricciardo was probably the one with the biggest smile in the Spanish paddock this week. The Australian won this year's British F3 championship and will join the World Series by Renault next season. He hopes to combine the World Series with a role as Red Bull's third driver in Formula 1 though.

Renault is looking for way to quit F1 before the start of 2010, plus other stories and rumours.

On Wednesday Esteban Gutierrez enjoyed his first official day of testing in Formula 1. The Mexican driver joined the BMW Sauber F1 team for a full day of testing but due to a hydralic leak his day ended an hour early.

Lucas di Grassi is seen as an upcoming young talent for several years. The Brazilian is already 25-year-old now and after being consider as a talent for many years now he is keen to finally enter Formula 1 as a race driver. According to Di Grassi his best options for 2010 are Manor and Renault.

Formula Two champion Andy Soucek is confident he will be racing in Formula 1 next season. The Spanish 24-year-old said he is completely focussed on signing up with a Formula 1 team rather than racing in any other series next year.