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Hopes were dashed in Valencia today as FB Corse was denied the opportunity to enter the 2010 MotoGP series with the rest of the field at Qatar on April 11th. The FB Corse team was at the Spanish track the past few days testing their FB01 race bike with Garry McCoy at the helm. Today being the final day of testing, representatives from Dorna and the IRTA were on hand to assess the condition of the FB Corse team and bike, and to make a determination as to whether they would be included in the 2010 series. Despite all of the media hype, Dorna’s Franco Uncini’s determined the team was not ready for MotoGP, but could maybe enter the series midway through if they where then ready.

The subject as to where Valentino Rossi will race in the future and finish his career has been a subject of much speculation, and seems to endure through the seasons. As usual we’ve already seen the speculation that Rossi may drive a Formula 1 car for Ferrari, or join Ducati for a perfect storm of corse italiano. Rossi usually likes to fan the rumors by staying non-committal, but in a recent interview with Motosprint Magazine, the nine time World Champion Valentino Rossi revealed that he would like to stay in racing for another three years, likely ending his career with Yamaha.

Loris Capirossi seemed destined to owe Dorna boss Carmelo Ezpeleta a steak dinner after the Balatonring supposedly secured funding from the Hungarian Development Bank. That bad fortune (for Hungarian MotoGP fans, not for Capirex) seems to have changed however as the loan has now been refused by the Hungarian bank, which leaves the Hungarian circuit a big question mark for the 2010 MotoGP calendar as it struggles to raise the needed $80 million. Story gets worse after the jump.

After injuring his hand earlier this year, Jorge Lorenzo has been sitting out MotoGP’s testing days, trying to recover in time for the upcoming season. Now leaving a post on his Facebook page, Lorenzo confirms that he will be at the Qatar test later next month. Surely with this message, all eyes will be trained on the Middle-Eastern track, looking for the first signs that Lorenzo will be able to dethrone the reigning World Champion Rossi.

Paginas Amarillas Aspar Team, the MotoGP team headed by Jorge “Aspar” Martinez, has just released it’s livery for the 2010 season. Now we’ve seen Ducati’s in yellow racing trim before, and it was no big deal. But for some reason, this goldenrod Ducati Desmosedici just doesn’t look quite right, and unfortunately for Aspar’s rider Hector Barbera, we’re starting the short bus jokes as of right now. Leave your own in the comments section.

After hosting its first ever round of Formula one, the Yas Marina Circuit outside of Abu Dhabi has its eyes on bringing MotoGP to the capital of the Emirates. Like most things in the UAE, the $1 billion circuit is impressive and brand new, and its owners hope to have the track MotoGP ready in the next two to three years, despite Dorna has yet to sign off on bringing the premiere motorcycle class to the UAE.

The day has come for FB Corse to make its big track debut, and also to prove to Dorna and the IRTA that they have what it takes to race in MotoGP. This March 15th thru 17th will see the Italian team take to the track at Valencia, where they will have their first track shakedown.

In attendance March 17th will be Dorna’s Franco Uncini and an IRTA representative. The purpose of these men is to assess the FB01’s competitive ability, during what is being called a “timing test’. Intially this has been reported to mean that Dorna and the IRTA are interested in seeing as to whether or not Garry McCoy can take the FB01 around the course within three seconds of last season’s slowest qualifying MotoGP lap time. However, that doesn’t seem to be the case now.

With the announcement that MotoGP would “allow up to” a 1000cc format in 2012, there was a hinting that manufacturers would be allowed to use their current 800cc machines in the coming years. The provision comes from the concern that another switch in engine rules will mean another financial blow to the teams that have already spent so much time developing their 800cc race bikes. We’ll skip the economic dissertation on what a sunk cost is, and go straight into the news that Yamaha will reportedly not make the jump to 1000cc’s, and instead continue to use its 800cc M1 in 2012.

The GP Commission (FIM, Dorna, IRTA & MSMA) met this week to discuss and further refine the rules that will be implemented in the 2012 MotoGP season, namely the return to the 1,000cc format. The new rules lock in the amount of gas a bike can carry, as well as other details pertinent to GP racing, but the rule everyone is talking about is the 1,000cc switch. Interestingly enough, the 2010 rules allow for motors “up to 1000cc”, but provide different bike weight for bikes under and over 800cc. Check out the details after the jump.