Project 1 Motorsport team files for bankruptcy

Seeing a team close to disappearing is always a sad event. The German team Project 1 Motorsport filed for insolvency on Monday, victim of a difficult economic situation for several weeks.

“After numerous discussions with investors, manufacturers, partners and friends, we have failed to achieve a positive outcome for the continuation of our Project 1 Motorsport and Project 1 Drivetime businesses., the team announced in a press release. The generally difficult economic situation, which also affects motorsport, has also contributed to this. For these reasons, we unfortunately have to file for insolvency for both Project 1 LLCs. It hurts us all the more to have to do this in our 30th anniversary year. »

The German formation, which was faithful to Porsche for many years, has nevertheless met with some success in recent seasons. In WEC, Project 1 won a world championship title in the LMGTE-Am category in 2019, as well as the 24H of Le Mans the same year. The German team also has numerous victories in the Porsche Supercup. Project 1 notably contested the DTM and the Asian Le Mans Series with the BMW M4 GT3 in recent years. In total: the team has 250 podiums, 12 driver titles, 8 team titles and 5 rookie titles. Project 1 Motorsport indicates, however, that the expertise of its members will still be relevant and used in competition this year.

ALSO READ > Schumacher CLRT in GT World Challenge with Dorian Boccolacci