Sun sets on Speedcar, A1GP

The Middle Eastern stock car series, Speedcar has collapsed after just two seasons.

The global downturn meant Union Properties, which owns Speedcar, was unable to support it and despite frantic attempts to find someone to take it over, none have been successful.

It also looks serious for the Dubai-born A1GP single-seater series. Touted as the World Cup of Motorsport, the series’ operating arm has gone into liquidation.

The Speedcar series was one of the most glamorous in the region, attracting big name former F1 drivers as well as local talent. Drivers have included Johnny Herbert, Jacques Villeneuve and Jean Alesi, as well as Sheikh Hasher Al Maktoum.

No one from Union Properties was available for comment, but a former employee at Speedcar told AutoMiddleEast.com that the money had simply run out. The firm’s staff lost their jobs in April.

Another source said: “It was haemorrhaging money but got on to a reasonably good keel in the last year. But Union Properties has no money, so it had to go.”