Stefan GP refusing to give up

USF1 was one of four new teams handed a place on the 2010 grid but their F1 dream came to an end before it even began due to a lack of funds.

And although the team requested that the FIA defer their entry into the sport until next season, motorsport's governing body instead announced last week that they had opened the selection process to replace USF1.

One of the favorites to take the American team's slot is Serbian outfit, Stefan GP, however, team owner Stefanovic would rather start racing this season than next.

According to Autosport, in a bid to make that happen, the Serbian businessman has agreed a deal to purchase USF1 so that he can take over their entry.

But it remains to be seen whether the FIA will agree to hand him the 13th place on the grid as, Autosport claims, the FIA believe USF1 forfeited their place on the grid when they failed to pitch up in Bahrain.

It was also subsequently been revealed that Stefan GP have ended their relationship with Toyota, having previously agreed a deal to use the former F1 team's chassis and technical know-how.

"For 2010, it's not feasible to do it anymore," Stefanovic said. "We have some other (plan) in mind, we will see.

"We are very grateful to Toyota, which is a great company and doing a great job in what they are doing. They are now organizing things differently, they are now more profit centered in TMG in Cologne." Planet F1