Charlotte’s future Formula One race team loses traction, closes shop
Posted on 2 Apr 2010 by Justin Ruckman
A Charlotte-based Formula One race team has ceased operations.
USF1 was scheduled to make its debut at the Bahrain Grand Prix, the season-opening race held March 14. But the shop sent its employees home and went dark in early March.
Ken Anderson, president and chief executive of the team, e-mailed employees today with a permanent layoff notice, citing “serious economic and funding challenges.”