Formula One Entry Bid
ART launched an entry into Formula One as one of many candidates to fill in the 13th slot for the 2011 Formula One season with a possible partnership from the now-defunct Toyota Racing Grand Prix team. Also the team announced that it was going to phase out its Formula 3 operation because it wanted to focus only on GP3 and GP2. The 2010 Formula 3 season proved to be ART Grand Prix's last. ART Grand Prix announced their entry bid for Formula 1 on 13 May 2010.
On 24 June 2010, Autosport magazine said that ART were set to become the 13th team for 2011. However, on 7 July 2010, ART announced in its official statement withdrawal of its entry bid. ART declared in its official statement that "ART Grand Prix had forged strong bonds with several technical and financial partners but with unfavourable economic conditions they could not gather the necessary guarantees to ensure the stability of the project in the long term." As revealed by one of the Formula One insiders during Czech TV NOVA 2010 British Grand Prix live coverage, one of the crucial partners was Michelin, who didn't succeed in their efforts to become an official Formula One tyre supplier from 2011.
Read more about this topic: ART Grand Prix
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