The deadline for teams to submit their entries for the 2010 Formula 1 championship expires on Friday as debate over the rules continues.
Teams wishing to fill one of the 13 available places must inform governing body the FIA by 29 May.
On Monday, Williams broke ranks with Formula 1 teams' association (Fota) by announcing that they intend to enter.
The remaining nine members of Fota are expected to make a united decision on whether to follow suit on Friday.
The heads of each team met in London on Wednesday to plot their next move as negotiations with the FIA over the future of the sport continue.
While Williams were temporarily suspended from Fota after deciding to sign up for 2010, a spokesman said that meeting was generally "positive and constructive".
The teams have told the FIA they will commit until 2012 if president Max Mosley scraps his controversial rules, which include a 45m euro (£39.6m) budget cap, for 2010.
At a meeting at the Monaco Grand Prix, it was agreed in principle to delay the cap until 2011, while Mosley has made other concessions to the teams on governance.
The ongoing debate over F1's regulations has made the issue of submitting an entry for 2010 more complex than usual.
Although the deadline expires on 29 May, six months earlier than normal, the FIA will consider late entries, although delayed submissions could trigger a penalty.
There is, however, little leeway for late entries as the FIA will publish its list of accepted teams and drivers for the 2010 championship on 12 June.
A number of new teams are expected to submit entries for consideration by the FIA on Friday.
Team US F1 and Spain's Campos Racing have already applied to compete next season while other names, including former F1 constructor Lola, are expected to throw their hats into the ring before the deadline runs out.
Norfolk-based Litespeed GP confirmed they will also submit an entry.
The FIA's cost-cutting directive is partly designed to encourage new teams to enter F1 and Litespeed GP's commercial director Dominic England agreed a budget cap would help.
"As long as we can see the budget cap coming down, we are moving towards a level playing field," England told BBC Sport.
"We are hoping the cap will come down to a sensible level, if it goes above £40m it makes things more difficult."
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