Auto Racing

The United States may not have a Formula One racing team to compete after all. Sponsors have backed out recently, bringing work on the team to a halt. This has caused a delay in payroll and nearly the whole staff leaving the project with only around 60 members left currently. This has left the US F1 team unable to have a fit racing team by the time races are scheduled to begin. Locstein, a major F1 sponsor and financial services group, has even recently issued a statement regarding their decision to cancel sponsorship. “Locstein did engage US F1 Team regarding sponsorship, but when it was apparent the team was not able to participate in the entire 2010 season, Locstein elected to withdraw from further involvement with US F1.” This is probably what statements from other sponsors said as well. The US F1 team recently pleaded with FIA officials to let them make their debut in Spain, the fifth race scheduled to happen this season. An official from FIA has flown out to the US F1 team headquarters and is currently surveying the overall progress of the team and evaluating whether or not they will even be prepared for the race in Spain. Details will be posted as they come!