Veloqx quits after 'works deal' proves non-starter

Despite three highly successful years spent competing in sportscar championships across Europe and the USA, Veloqx Motorsport has been forced to announce that it will not be in action in 2005.

The team, which came close to adding the Le Mans 24 Hours to its LMES title success last season, cited the inability to land a factory contract as the main reason for its decision, although team boss Sam Li stresses that the withdrawal is temporary.

"The Veloqx Group takes pride in its business success and, 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," Li explained, "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 are 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, and 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."

Formed at the end of the 2001 season, Veloqx's successes have included championship titles in the British GTO class, GTS victory with Ferrari in the 2003 Le Mans 24 Hours, overall success in this year's Sebring 12 Hours - having switched to the Audi R8 prototype - and the inaugural LMES title on the back of seven podiums shared between its two cars. The team also finished second at Le Mans behind fellow Audi squad Team Goh.

"Departing the motorsport world on a 'high' will leave many good memories," Li continued, "Veloqx is extremely proud of its successes this past three 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."

Li confirmed that Veloqx would continue to be involved in motorsport by representing its longest-serving driver, Jamie Davies, in whatever the 30-year old decided to race this season.

Davies, a former single-seater expert, joined the team in late 2001 and secured the British GTO Championship in Veloqx's first year, driving a N-GT-spec Ferrari 360. He was duly 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 1000km race victories that year. With ex-F1 star Johnny Herbert as his team-mate in 2004, Davies secured the LMES title with the #88 Audi and posted the fastest lap around La Sarthe.