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The USF1 saga may have taken a turn for the worse today as Autosport reports that the hopeful team's operations have 'effectively been shut down.' Team personnel and the remainder of the operation's employees were reportedly given the news today that their services would no longer be needed, though some unknown number of them technically remain employed (albeit unpaid).


Reports of Toyota F1's demise may prove to have been exaggerated as the latest rumors from the racing world suggest that the Japanese automaker is in discussions with a Serbian outfit about taking over the Cologne-based racing team.

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