Ex FIA WEC GTE AM Championship winners and 30-year Porsche racing veterans Project 1 Motorsport has confirmed that it has filed for bankruptcy in Germany.
The team joined the FIA WEC in 2018 and took the GTE Am teams and drivers championships in their debut year with Patrick Lindsey, Jorg Bergmeister and Egidio Perfetti (pictured top).
Founded in 1993 as Tolimit Motorsport, the team took no fewer than 18 major one-make Porsche titles and carried the proud headline as the most successful outfit in one-make Porsche racing into its GTE era.
Project 1 continued to operate Porsche 911 RSRs in the WEC until the final season of the class last year, adding GT3 campaigns in the DTM with BMW alongside successful GT4 campaigns with the Bavarian marque and one-make efforts in the BMW M2 Trophy.
After failing to be selected for the FIA WEC in LMGT3 by Porsche Project 1 was left looking for other programmes and competed with honour up until tw0 weeks ago in the Asian Le Mans Series scoring three top 10 finishes.
The team statement reads as follows:
After numerous discussions with investors, manufacturers, partners and friends, we were unable to achieve a positive result for the continuation of our companies Project 1 Motorsport and Project 1 Drivetime. The generally difficult economic situation, which also affects motorsport, also contributed to this.
For these reasons, we unfortunately have to file for bankruptcy for both Project 1 GmbHs. It pains us even more to have to do this in our 30th anniversary year.
We look back with pride on the following highlights:
World championship title with Porsche in the WEC debut year 2019 in the LMGTE-Am category
Winner in the LMGTE-Am category at the 24h of Le Mans with Porsche 2019
Best Porsche team at the Dubai 24h Race 2011
Dozens of victories in the international Porsche Supercup
Dozens of victories in the Porsche Carrera Cup Germany
Team champion in the rookie year with BMW in GT4 Germany 2022
Runner-up in the drivers’ championship with BMW in GT4 Germany 2022
DTM debut with BMW in 2023 and two fourth places
A total of 250 podiums, 12 driver titles, 8 team titles and 5 rookie titles
These successes would not have been possible without our employees, partners and friends. We would like to thank everyone involved and our fans from the bottom of our hearts.
The expertise of our employees will continue to be part of motorsport in 2024.
DSC would like to pass on our best wishes to all concerned from a team that was always a welcoming presence in the paddock.
