USF1: Funding not an issue

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    USF1: Funding not an issue

    Post by Ross on 26th February 2009, 08:43

    USF1: Funding not an issue

    The founders of the new USF1 team are confident that their project is financially viable, while admitting that they have set themselves a tough task by launching a Formula 1 squad amid a recession.

    Peter Windsor and Ken Anderson officially launched the USF1 team in a press conference on American broadcaster Speed TV today.

    Former Williams team manager Windsor revealed that an additional investor had already bought a small stake in USF1, and that the team now had sufficient capital to become a reality.

    "We've set some unbelievably steep hills to climb in the recession, we just wanted to sell off a small part of the team, and I'm pleased to say that we've done that and we're now two guys that can say we're going to do a Formula 1 team - because we've got the capital to do it," he said.

    Windsor does not think USF1 will need to spend the astronomical sums that existing F1 teams have in recent years.

    "For those out there who say 'where's all the money, where's the huge facility, where's all the money falling out of the sky?' - that isn't ever going to happen with USF1," he said.

    "We've always had a very different approach and that approach will become visible as time goes on and this year unfolds."

    He believes his new team can break the mould in F1.

    "Both of us grew up with a passion for Formula 1 and even names like Masten Gregory, Richie Ginther, Peter Revson and what they achieved, apart from the great names like Dan (Gurney), Mario (Andretti) and Phil Hill," said Windsor.

    "That's what it's all about.

    "If you look at the way it's gone in the recent past, you've needed to either find an incredible rich trillionaire and have him own the team and dominate the team, or you are lucky enough to be invited by a large car company to set up their Formula 1 operation for them.

    "Ken and I have been around long enough not to want to do either of those two things.

    "We always wanted to do our own team, our way.

    "It sounds very arrogant perhaps, but we have got some history, we've got some things that we want to bring into the sport that we think we can do well."

    Anderson added that he had no concerns about USF1 being based in America when all its rivals would operate out of Europe.

    "Most of the technology in Formula 1 comes from the United States to begin with," he said.

    "As of next year less than half the races will be on the (European) continent, so there are less races there.

    "The cost of doing business in the United States is significantly cheaper than Europe, and there are a lot of good people here.

    "Whether you're going to Australia from here or England is kind of a moot point."

    USF1 already has the backing of F1 supremo Bernie Ecclestone and FIA president Max Mosley.


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