USF1 / Campos problems and due diligence

One has to wonder about the selection process that took place, narrowing down 15 applications before selecting Campos Meta and USF1.

According to the sport’s governing body – the FIA - "All of those entries underwent a stringent due diligence process to ensure that new teams have the required level of funding, resources, experience and technical expertise to compete at the highest level of motor sport," read a statement in June of last year. "Three of those teams have been confirmed for 2010 and further due diligence is currently taking place on other potential entries."

Of the original three teams selected, only Manor Grand Prix – now Virgin Racing – is showing signs of life, while Lotus was later added to the mix.

Quite what checks were made by the FIA remain unclear but according to former team principal and Prodrive chairman Dave Richards, the struggle of both US F1 and Campos Meta is not surprising.

"I am not too surprised at how difficult some of the teams are finding the challenge of both building the technical infrastructure and finding the finance to launch their F1 programmes,” Richards told The Sun. "Had our original bid been accepted last June, we had the infrastructure and finance in place for the 2010 season.

"Now it is not practical for us to consider any involvement this year but we are certainly ready to consider any future opportunities."