It is being reported in Argentina that ‘with tears in his eyes’, team boss Peter Windsor told USF1 driver Jose Maria Lopez that the team will not be able to participate in the 2010 season.

According to site Momento24.com, Lopez’s father and his representative Felipe McGough have headed hastily to Europe to speak with Bernie Ecclestone in a bid to get the Argentinian driver on another team.

There have been rumours right from the off that the team wouldn’t make it to the grid, and now it is thought that USF1’s main sponsor – Chad Hurley of Youtube, has withdrawn his backing from the team due to lack of progress in development of the team’s car. Hurley is supposedly looking at moving to Campos, the other F1 newcomers who also face an uphill struggle to get to the grid.

It is reported that because Hurley has withdrawn his support, USF1 owner Peter Windsor can not afford to pay Cosworth for the engines and the American dream has therefore collapsed. This could pave the way for Stefan GP, who claim they have everything they need to race in F1, except two 2010 grid slots.