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USF1 plays down factory speculation

USF1 play down talk that 'For Sale' sign on Charlotte factory will have an impact on F1 ambitions
USF1 has played down further speculation about its planned entry into F1 following the revelation that its Charlotte base has been placed up for sale.

Walters Commercial Real Estate Services Ltd has listed the building in the Twin Lakes Business Park for sale at more than $3 million, which raised further questions about the team's entry.

However, with USF1 holding a long-term lease on the building – which the property brochure reveals is also home to both Robby Gordon Motorsports and BAM Racing – the team insists that the planned sale will have no impact on its plans.

“USF1 has a long term lease on the building so there are no worries there,” a spokesperson for the team revealed to F1Fanatic. “It is absolutely USF1's intention to compete this season.”

According to the sales brochure, USF1 has already spent more then $600,000 on renovations since moving into the property last year and has a five year lease.

The team also has a European base at the Motorland Aragon circuit in Spain.

USF1 has thus far signed just one driver for the 2010 season – Argentine racer Jose Maria Lopez – and has yet to launch or test its car.




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Martino1021

February 16, 2010 4:36 PM

It is not uncommon for owners of buildings to sell their property with current tenants (think apartment buildings). Sometimes existing leases may be used to increase the implied value of their holding. Non-story. Should be good for some rampant speculation in the comments.



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