The USF1 Formula One team has been fined and barred from ever competing in F1 for not taking part in the 2010 world championship.


Quote from the article:

The World Motor Sport Council said Thursday the American team had "infringed the FIA international sporting code [and] the sporting regulations of the 2010 FIA Formula One world championship." The Council said it was fining the team $382,000 plus legal costs and banned the team from taking part in "any competition." USF1, whose primary investor is YouTube co-founder Chad Hurley, was granted an entry for the 2010 season but withdrew in February because it was unable to develop its cars in time.

Source: USF1 team fined, banned from F1

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