Superfund rules out F1 application

The company, run by Austrian businessman and motorsport enthusiast Christian Baha, had sought an entry for 2010, but missed out on one of the new team slots that were awarded to Manor Grand Prix (now Virgin), Campos Meta 1 (now HRT) and Team US F1.

It also remained on the reserve list, but the extra grid slot opened was handed to Lotus in September.

Despite the FIA inviting "expressions of interest" from teams for any vacant grid slot for next season on March 13, Baha confirmed to AUTOSPORT that "Superfund will not apply for a 2011 licence."

Team Superfund was headed up by ex-Benetton, McLaren and Williams racer Alexander Wurz, who is no longer involved in the company. It would initially have been based in the factory of an existing team - believed to be Williams - before its own headquarters was established in Austria.

Formtech, which lodged an entry last year under the Brabham name, has also ruled out applying for a place in F1.

Ex-Super Aguri technical director Mark Preston, now managing director of Formtech Composites, which is based in the former Arrows/Super Aguri factory in Leafield, told AUTOSPORT that an F1 entry is "no longer in the plans".