Defunct Usf1 Team Banned From Racing
The defunct USF1 team has been banned from F1 and fined £255,000 for their failure to compete in this year’s world championship.
World motorsport governing body the FIA has also disqualified the team from all future events.
The fine is equivalent to their entry fees to the championship – which will be simply retained – and the costs of bringing a disciplinary case.
The team now have seven days to launch an appeal, but they are not expected to contest the verdict.
After being named as one of four new entries last year, the team ran into financial difficulties.
The team confirmed to the FIA in February this year – only three weeks prior to the season-opening Bahrain Grand Prix – that they would not be able to take part.
In looking into the case, the judging body of the FIA’s World Motor Sport Council decided to come down hard on the American team.
US F1 were found guilty of infringement of the International Sporting Code, the sporting regulations of the 2010 F1 World Championship, and the obligations resulting from its entry in the championship.
In their findings, the FIA concluded US F1 ‘had displayed poor financial management and had underestimated the requirement to present an F1 car for the 2010 season in the time and with the financial resources available to them.’
