Report: Cosworth is done

The independent British engine manufacturer´s foray into F1 is over, rivals say these days.

Coming back in 2010 to supply engines for the three newest teams on the grid, Marussia, Lotus and HRT, as well as Williams, but only the latter team managed to score points that year, finishing 6th in the championship. 2011 was a step back for Cosworth it seemed, when all their teams finished at the back of the grid, with Williams again being the best of the four, though only scoring 5 points of the season.

For this season only two teams are left with the Cosworth engines, HRT and Marussia. Williams and Caterham, the former Lotus team, both switched to Renault, but the immediate future looks grim for those final Cosworth powered teams. Rule changes from 2014, mean that the current V8 units are history, replacing them with Turbo charged V6 engines, and it´s a big question of Cosworth can even stay for the final season.

Speaking to motorsport-total.com, Renault´s Jean-Francois Caubet said:

“Cosworth, for sure, are finished.” Caubet is pushing for FIA to ‘relax’ the rules so that engine suppliers can have more than four customers. And last year Caubet said: “I am pushing for an open market because we are in formula one and regulations cannot solve all the problems,” he added.

So what´s left for the teams to choose from? Craig Pollock, who we know as former team principal for the BAR Racing Team, is ready with the answer. His PURE engines have been under development for some time, and expects to be ready to take on customers when the new rules for 2014 are introduced.

“Cosworth cannot be there in 2014. They just can’t make it in time now, no matter what anybody says,” Pollock said. “It’s an absolute impossibility.”

When BMW and Toyota dropped out of F1 before the 2010 season, the engine diversity dropped too. For the first time in 30 years, only four engine manufacturers supplied engines to the teams.

Cosworth have supplied engines to such teams as Lotus, McLaren, Matra, Brabham, March, Tyrrell, Surtees, Hesketh, Lola, Williams, Penske, Wolf, Ligier. From 1969 to 1973 every world championship was won using the powerful DFV-engine, Double Four Valve, winning 155 races out of a total of 262 between 1967 and 1985.

Lola files for bankrupcy

Lola, the company which has built cars for numerous racing series, such as Le Mans, CART, Formula 2, Formula 3, Formula 5000, A1GP and of course Formula 1, just to name a few, has filed for bankruptcy protection.

Founded in 1958, the Lola name has been synonymous with racing for more than half a century, but now it is all over. The company is entering financial administration, as there is simply too many expenses and not enough money coming in. it is also believed that tax credits from the British government was partially to blame.

Lola is also involved in defense and aerospace technology, but it remains to be seen if the bankruptcy protection will have any effect on these areas of operation. Caterham and Lola collaborated in building the SP/300 track car, a new breed of race cars, costing £60,000 each and limited to 25 cars, to be raced in a brand new race series. Other race teams in various series are using Lola prototypes.

An official statement was released from Lola.

Lola Cars International Ltd was formed in 1958. In recent years, significant investment has been made in technology and capability in the motorsports business as well as diversifying and creating Lola Composites Limited, serving the defence, aerospace, communications, renewable energy, automotive and motorsports markets.

The latest economic downturn and the decision of HMRC not to pay ongoing R&D tax credits has caused a serious cashflow problem for the businesses. It is with enormous regret that a decision has been taken to issue Notices of intention to appoint an Administrator to Lola Cars International Limited and Lola Composites Limited. This step allows the board to continue its discussions with possible investors and prospective purchasers with a view to securing the best outcome for the staff, creditors and customers of both businesses.

The Lola board have declined to make further comment until Monday 21st May.