ART Confirm Their Withdrawl From 2011 Team Bid
ART Grand Prix, the French team who run many cars in motorsport around the world have confirmed they will not be pursuing their bid to become the 13th team in Formula One, starting next season.
ART were heavily tipped to become the final team, taking over USF1’s slot on the teams list. Top F1 sources including the FIA, Autosport and this website all believed ART had what it took to become the next new team.
The team emphasised it still wanted to get to F1, but the economic conditions were just not right.
“ART Grand Prix has decided to withdraw their application to the International Federation of Automobiles (FIA) to take part in the 2011 Formula One World Championship,” said a statement from ART.
“The team has been working for several months on this ambitious project that they had undertaken with determination and lucidity.
“ART Grand Prix had forged strong bonds with several technical and financial partners but with unfavourable economic conditions they could not gather the necessary guarantees to ensure the stability of the project in the long term.
“Therefore, the company will have to postpone its project until a later date, however it remains completely focused and dedicated to the other single-seater championships in which they are successfully involved in.”