US F1 auction raises $1.4m
The auction of the US F1's assets has raised $1.4 million for its creditors.
US F1 was supposed to be Formula One's 13th team this year but ultimately failed to raise the funds to successfully build a car and make the first race in Bahrain. With a queue of creditors to pay off, the entire contents of the American outfit's Charlotte headquarters went under the hammer last week.
Among the 427 lots - including bins, computers, tools, a vacuum cleaner, a forklift, a barbeque, a wheel rim and an unopened bottle of champagne - was a carbon fibre mock-up of the unraced chassis, which sold for $7,850.