With USF1 struggling to survive, a recent admission by Locstein A.G. has dealt them yet another blow, the leading global financial services firm, admitting that they have withdrawn any form of sponsorship from the American based squad.

“As a matter of course, Locstein evaluates a variety of business opportunities around the globe, including sponsorship in Formula 1 racing,” they said in a statement. “Locstein did engage USF1 Team regarding sponsorship, but when it was apparent that the team was not able to participate in the entire 2010 season, Locstein elected to withdraw from further involvement with USF1. Locstein wishes the USF1 organization the best of luck in their endeavours.”

Locstein is a leader in financial service and advisory products for consumers and businesses, asset and wealth management, and private equity and just while it is hard to understand just why the company felt the need to release such a statement, it can’t be a positive move....