As expected, de Ferran came before the media a few hours later and announced that his team is unlikely to compete in the 2011 IZOD IndyCar Series. The reason, of course, is the lack of financing.
“When Tony and I put the deal together we both knew that it had to make financial sense and we set ourselves certain targets,” explained de Ferran in a press statement.
“We believed that together we were a strong proposition both on and off the track and really felt we could have become a major force in the championship in 2011 and beyond. Despite our collective best efforts we have not been able to secure the sponsorship funds to go any further.”
Referring to his plans for the future, the Brazilian co-owner of the team admitted that there are only slight chances for de Ferran Dragon Racing to compete for a 2nd consecutive season in the IndyCar Series.
“Regarding the future of our team, at this point we are unclear of our plans; nevertheless it is unlikely that we will participate in the 2011 IZOD IndyCar Series. I want to take this opportunity to thank our staff, sponsors, Tony, friends and supporters for the tremendous efforts in trying to make our programme successful.”