Veloqx announces withdrawal from motorsport

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After three highly successful years competing in endurance and sportscar races in the UK, Continental Europe and the USA, Veloqx announces its withdrawal from competitive motorsport. Formed at the end of the 2001 season, Veloqx's successes have...

After three highly successful years competing in endurance and sportscar races in the UK, Continental Europe and the USA, Veloqx announces its withdrawal from competitive motorsport. Formed at the end of the 2001 season, Veloqx's successes have included:

* 2002 British GTO Championship including 11 podium results (Veloqx Motorsport)

* 2002 FIA GT Championship -- Estoril podium (Veloqx Motorsport)

* 2003 FIA GT Championship -- 9 podium results (Team Maranello Concessionaires)

* 2003 24 Hours of Le Mans - victory in GTS class (Veloqx Prodrive Racing)

* 2003 Le Mans 1,000 Km -- 1st and 2nd in GTS class (Veloqx Care Racing)

* 2004 12 Hours of Sebring -- 1st and 3rd (Audi Sport UK Team Veloqx)

* 2004 24 Hours of Le Mans -- P1 and P2 grid positions, fastest race lap (Jamie Davies) and 2nd and 5th overall (Audi Sport UK Team Veloqx)

* 2004 Le Mans Endurance Series -- 7 podiums plus LM P1 Champions (first and second overall - Audi Sport UK Team Veloqx)

Sam Li, Veloqx Motorsport's Team Principal, confirmed : "The Veloqx Group takes pride in its business success. Therefore, it is of the utmost importance that we stay true to our original plan to build the team over time and secure a long-term and significant 'works' project. Through a combination of external commercial factors, it has proven impossible for Veloqx to follow its motorsport business objectives in 2005.

"In the absence of a programme next year, it will be very hard to retain the services of some of the world's most talented people. Therefore, it is with much sadness that we take the decision to close our motorsport activities for the time being. There is 25 years or more ahead for Veloqx to mount another challenge to secure the overall Le Mans title, the only victory that eluded us in 2004. The most sensible approach is to conserve our resources and maximise our profitability in other areas of the Group and return at the most appropriate time.

"Departing the motorsport world on a 'high' will leave many good memories. Veloqx is extremely proud of its successes this past three years - British GTO Championship in 2002, Le Mans 24 Hours in GTS class in 2003, victory in class in the Le Mans 1,000 Km the same year, victory in Sebring this year - our first race with the prototypes, all four LMES races and the ultimate prize of the Championship, not to mention the drama and delight at securing P1 and P2 in Le Mans in 2004 and being part of the closest finish in La Sarthe for some 35 years. The team has made history and we have the awards to take with us to remind ourselves of what we have achieved. I'd like to thank our partners, suppliers and associates, all of whom have demonstrated unfailing enthusiasm from the beginning, for their tremendous support. Worthy of special mention are the relationships we've enjoyed this year with Dr Wolfgang Ullrich and his team at Audi Sport AG and with David Ingram of Audi UK. We remain resolute in our opinion that Audi are by far the finest technical partner to work with in the world of motor racing."

Veloqx will continue its association with motorsport by representing its longest-serving driver, Jamie Davies. Davies, 30, from Yeovil in Somerset, joined the team in late 2001 and secured the British GTO Championship in Veloqx's first year driving a Ferrari 360 N/GT. He was subsequently retained to spearhead the assault on the 2003 FIA GT Championship and was part of the driver line-up responsible for securing the 24 Hours of Le Mans GTS-class and 1,000Km race victories the same year in a Ferrari 550 Maranello. With ex-F1 star Johnny Herbert as his team mate in 2004, Jamie secured the title of joint LMES Champion driving an Audi R8 (race number 88 which became synonymous with Veloqx) and was the fastest man around the Le Mans circuit during the 24 Hour race this year.

Further details of Jamie's career can be found at www.jamie-davies.com.

-www.teamveloqx.com

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Series ALMS , LEMANS , ELMS , BSS

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