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USF1 – Has the Dream Ended?

by F1Fan on April 3, 2010

Several media sources are reporting that USF1 has completely closed down, I hope that these reports are incorrect but it is not looking good for the “American F1 Dream Team”.

Apparently Ken Anderson USF1 Team Principal and CEO has e:mailed the remaining employees that were put on unpaid leave several weeks ago telling them that they have been permanently laid off.

This past Friday the Charlotte Business Journal reported that Ken Anderson cited “serious economic and funding challenges” as the primary reason for the lay-offs within his e:mail. However the message apparently also said that “employees could be rehired if conditions improve” whatever that means.

One can only hope that some white night billionaire (several Hedge fund managers come to mind) comes to the now defunct teams rescue, small chance I know and wether Anderson would survive any such investment is questionable as a lot of the blame for the teams failure can be laid at his door, given the apparent lack of real program management within the Team.

Then their is the current FIA investigation, without any employees and any progress on the chassis let alone any new funding available a decision to allow USF1 as an entrant in the 2011 season is highly unlikely to say the least.

It was a great story while it lasted, but while Lotus. Virgin and even HRT managed to make the grid, USF1 fell on its sword. Will their be an epilogue? Can USF1 or another US based team rise from the ashes?

Your guess is as good as mine.

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