Speculation is rife on the web this morning that the USF1 team has closed its doors and given up on the American dream to have their own Formula One team in the pinnacle of Motorsports, however according to the team’s co founder, Peter Windsor, the company is still operational.

“The FIA have told us to say nothing but I can say that I have no knowledge of the company being closed,” Peter told us.

While Ken Anderson is freely speaking about the situation, telling Autosport that the employees have been told to stop working on the car at their Charlotte based factory as there is nothing more they can do until the FIA decide whether to let them hold onto their entry until 2011 or not, Windsor is keeping tight lipped following the FIA’s advice not to speak about the situation at all.

Word is that the two drivers on the list for a drive, James Rossiter and already signed Jose Maria Lopez have given up on racing for the team with Rossiter moving to IndyCar and Lopez publically stating that he has given up on racing in the pinnacle of Motorsports this season.

More to follow.....