American team USF1 was missing at the Jerez test this week and rumors are saying that they are pretty much on the verge of just quitting F1. If this happens, it would hopefully give Serbian team Stefan GP an entry in the grid. They are ready as they bought Toyota’s car and renamed it the Stefan S-01.

There have been plenty of word being exchanged about USF1 – including a rumor that YouTube would be backing out of their sponsorship and moving the money to another team. “The bottom line is really simple: sponsor money didn’t come through the way it was supposed to and it has grinded down the company to a halt. They’re having trouble making payroll, they’re having trouble paying suppliers and that’s the situation they find themselves in,” said an anonymous source in news reports. USF1 Team Principal Ken Anderson admitted with a rather ‘glass half full’ view that “a couple of sponsors have let us down a little but, but we’re on track.”

In fact, yesterday the US F1 Team website went down, and many took it as a signal that the team had finally folded. But the team’s Twitter account posted a message saying “The US F1 Team web server is down and is being repaired as this is written. We are not gone, as many have reported. More news soon.” We’re definitely waiting for more news!