Defunct team's assets sold off; raises £950,000
16 June 2010

The assets of defunct Formula One team US F1 have been auctioned off.

The US F1 team secured a slot on the 2010 grid, but failed to raise the necessary sponsorship.

Despite insisting it would race until the eve of this season, it appears to have had few assets to sell off. The main item of interest to race fans was a carbonfibre tub (pictured), which raised just $7850 (£5260).

Other items sold were more mundane. The 427 lots included items such as rubbish bins, desktop computers, laptops, sofas, a vacuum cleaner and a single bottle of champage.

In total the sale, which also included some heavy machinery, raised $1.4 million (£950,000) which will be used to pay off some of the team's extensive debts.

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Comments
8

16 June 2010

That would be such a good thing to have in the living room with a PS3 and G27 steering wheel and pedals fitted into it. a unique driving simulator.

16 June 2010

Can't help but wonder where all the money went - or if it even existed - and whether it was just a high-profile scam to rip-off their investors.

16 June 2010

[quote SpiritOfSenna]Can't help but wonder where all the money went[/quote]

If you want to make a small fortune in F1 start off with a large one!

16 June 2010

what a lovely paper weight!

16 June 2010

[quote beachland2]

That would be such a good thing to have in the living room with a PS3 and G27 steering wheel and pedals fitted into it. a unique driving simulator.

[/quote]

+ 1 to you !!

16 June 2010

Did they only have one tub ????Or was this a spare ?

16 June 2010

[quote Uncle Mellow]

Did they only have one tub ????Or was this a spare ?

[/quote]

They only had one tub, and that wasn't finished...

16 June 2010

Couldn't have happened to a nicer guy than Mr Windsor.

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