After a two-year effort to launch the twelfth team on the Formula One grid, Prodrive has finally conceded to the phrase "Give up all hope, Ye who enter here!". Prodrive boss Dave Richards had protracted negotiations with McLaren about buying their chassis and Mercedes-Benz engines. Objections, however, to customer programs from teams such as Williams resulted in a new Concorde Agreement that killed the plan. As a result, Dave Richards, having seen what happened to Tom Walkinshaw a few years ago, decided against sacrificing his entire business empire and will instead re-focus the company on GT racing and the World Rally Championship. Richards himself will again take a hands-on role in leading the Subaru WRC team that was so successful under his guidance in the 1990s. It's a shame it didn't happen, but it's probably for the best given past history.
[Source: AutoCar, via Winding Road]