USF1 team fined, barred from competition for not racing in 2010 Formula 1 seasonBy AP
Thursday, June 24, 2010
USF1 team barred from F1 for not racing in 2010
GENEVA — The USF1 Formula One team has been fined and barred from ever competing in F1 for not taking part in the 2010 world championship.
The World Motor Sport Council said Thursday the American team had “infringed the FIA international sporting code (and) the sporting regulations of the 2010 FIA Formula One world championship.”
The Council said it was fining the team $382,000 plus legal costs and banned the team from taking part in “any competition.”
USF1, whose primary investor is YouTube co-founder Chad Hurley, was granted an entry for the 2010 season but withdrew in February because it was unable to develop its cars in time.
Tags: Automobile Racing, Formula One, Geneva, Government Regulations, Industry Regulation