Toyota has been given the go to become Formula One’s 12th team. The Japanese outfit has officially signed a contract with the FIA, which has confirmed the team’s entry. The team, which will return to Formula One after a 17-year absence, is hoping to enter the sport in 2001. A team spokesman added, “We want to take part at the latest by 2002 on the outside, but we’re aiming for 2001 and that’s what we are working on.”