26 Feb 2010

US F1 close to folding

6:21 am on 26 February 2010

The new US F1 team will almost certainly not race this season as doubts increase about their future.

The BBC is reporting they'll not make any of the first four races, are two months away from having a car and have insufficient funds.

US F1's main backer, YouTube founder Chad Hurley, is in discussions over a switch to rival new team Campos.

US F1 could also lose their only signed driver, the Argentine Jose Maria Lopez, to Campos as a result of any deal between them and Hurley.