LONDON, April 1 (Xinhua) -- Twenty two teams have applied to race in the 12-team 2008 Formula One championship, the sport's governing body said on Friday.

    "All applicants have been invited to a meeting in London on April 10, 2006," the International Automobile Federation (FIA) said in a statement.

    No details were given about the teams seeking entry. Formula One supremo Bernie Ecclestone says there will be slots for only 12 teams after the expiry of the existing commercial agreement at the end of 2007.

    The 11 teams competing in this weekend's Australian Grand Prix, including Ferrari and champions Renault, have submitted applications and can expect to be on the 2008 starting grid.

    Other applicants are known to include former Minardi owner and aviation entrepreneur Paul Stoddart, and ex-BAR and Benetton team principal David Richards' Prodrive company, which confirmed it had applied earlier on Friday.

    Some manufacturers may be planning 'B' teams.

    Mercedes-powered McLaren are known to be interested in such a step, while others competing in junior series such as GP2 might also want to move up to the top level.

    The governing body has proposed new regulations designed to reduce costs significantly to allow smaller entities to compete against the major manufacturers.

    The glamour sport is currently dominated by carmakers, with Toyota estimated to have spent more than 1 billion US dollars since entering in 2002.

    The FIA, in sporting regulations for 2008 published earlier this month, fixed Friday as the deadline for applications and said that all "will be studied by the FIA and accepted or rejected in its absolute discretion.

    "The FIA will publish the list of cars and drivers accepted together with their race numbers on 28 April, 2006, having first notified unsuccessful applicants," it said.

    All applicants have agreed to pay a 300,000 euro (363,500 US dollars) entry fee to the FIA by November 1, 2007, if successful. Enditem