In looking into the case, the judging body of the FIA’s World Motor Sport Council has come down hard on the American team.
USF1 have been found guilty of infringement of the International Sporting Code, the sporting regulations of the 2010 Formula One World Championship and the obligations resulting from its entry in the Championship.
That has resulted in a fine of 309,000 euros (£255,000), the sum equivalent to their entry fees to the Championship which will be simply retained, as well as costs incurred by the FIA throughout the disciplinary procedure.
In particular, USF1 have been disqualified, definitively depriving them of the right to take part, in any way whatsoever, in any competition.
In their findings the FIA concluded USF1 “had displayed poor financial management and had underestimated the requirement to present an F1 car for the 2010 season in the time and with the financial resources available to them.”
The team now have seven days to launch an appeal, although it is anticipated one will not be forthcoming.