Racing Point have dropped an appeal against a $473,520 fine and 15 point penalty for copying Mercedes' 2019 brake ducts, the Formula One (F1) team said on Sunday.

Renault, who made the original protest, had already withdrawn their appeal -- leaving only Ferrari still taking action.

In a statement ahead of the Italian Grand Prix, Racing Point welcomed "much-needed clarification of the rules on listed and non-listed parts" by the governing FIA.

The team also noted that the stewards and all parties involved in the appeals process had recognised a lack of clarity in the regulations and that there was no deliberate intention to break them.

"Now that the ambiguity around the regulations has been settled, we have decided to withdraw our appeal in the wider interests of the sport," the team added.

Racing Point said the matter had been a distraction and that it looked forward to focusing on racing with Canadian Lance Stroll, son of owner Lawrence, and Mexican Sergio Perez.

The team, whose 2020 car is a close copy of last year's Mercedes, have been allowed to continue competing without having to redesign the offending parts.