USF1 co founder Ken Anderson has explained that problems occurring back in January basically ended his USF1 team’s chances of contesting the 2010 formula One championship as previously planned after struggling to get through earlier crisis’s such as threats from the other teams to form their own championship last year and other political issues.

Speaking to Autosport, Anderson admitted that with promised funding failing to appear at the beginning of the year, they were left with little else to do than fold, especially after talks to merge with other outfits such as Stefan, Campos and even Toyota failed to yield successful conclusions.

"The way the chips fell in January put us behind. [Then] there was really no point in trying to show up any time this year once you have missed the testing, and there is no testing during the year,” he told the British magazine.  

"There is no point in trying to miss races and show up, just to show up. That would just look bad for everybody. It has been very difficult for all the new teams to get to the first tests - but once the racing season starts, with no testing, if you have problems it is just very difficult to solve them."

While they were hoping to hold their entry over to the 2010 championship season, the FIA said in a statement that they will announce details of a new selection process to identify the candidates to fill any vacancies existing at the start of next season.

This indicates that the USF1 entry will not be automatic and that they may be up against other teams, like Stefan GP, that want to compete, forced to prove to the sport’s governing body that next time they will be able to make it work and not be forced to give up on racing as intended for a second time.