How very sad Only 12 teams on the grid next year, but, looking on the bright side, if the FIA get their way, we'll have 14 teams on the grid (most likely Stefan and USF1)
BBC SPORT said:
New team Stefan GP have Formula 1 entry rejected
Formula 1 hopefuls Stefan GP have had their bid to race in 2010 rejected.
The Serbian team had hoped to race in place of another new team, US F1, which has withdrawn after failing to fulfil its obligations for the new season.
Governing body the FIA said in a statement: "It is not possible for a replacement team to be entered for the championship at this late stage."
The decision means 12 teams will be on the grid when the season starts in Bahrain on 14 March.
Stefan had been campaigning vigorously to be given a place on the grid, and had been given the support of F1 commercial boss Bernie Ecclestone.
The team, run by Serbian businessman Zoran Stefanovich, had obtained the cars that were designed and built by the Toyota team before the Japanese manufacturer quit the sport at the end of last season.
Stefan had stepped up its campaign in recent weeks as it became clear that US F1 would not make the grid.
The FIA said in a statement that US F1 had "indicated that they will not be in a position to participate in the 2010 FIA Formula 1 World Championship.
"Having considered the various options, the FIA confirms that it is not possible for a replacement team to be entered for the Championship at this late stage."