The Bloodhound 1000mph Speed Record Project Is In Administration

A project founded over a decade ago to attempt to hit 1000mph on land has called-in administrators after running short of funds
The Bloodhound 1000mph Speed Record Project Is In Administration

Bloodhound, the project that targets a 1000mph land speed record, has entered administration after a prolonged shortage of funds.

The mission was founded more than a decade ago by two land speed record holders, current holder Andy Green and his predecessor Richard Noble, but since testing Bloodhound SSC at just 200mph at Newquay Airport last year, money has been a problem.

Richard Noble with Bloodhound SSC
Richard Noble with Bloodhound SSC

Administrators have been called in to try to save the project from any terminal wounds. A team from FRP Advisory is said in an Autocar report to be trying to source investment from potential saviours the world over. Bloodhound has enjoyed massive exposure since its inception and it’s hoped that a new backer can be found.

The money involved is scary, though. Autocar quotes team insiders as saying that the project needs about £5 million just to get the jet-powered car to Bloodhound’s ready-prepared 11.1-mile track in South Africa and run at 500-600mph. The team would need to be rebuilt from just five to around 15 people.

The Bloodhound 1000mph Speed Record Project Is In Administration

To crack 800mph and set a new record, eclipsing the 763.035mph benchmark hit by Thrust SSC in 1997, Bloodhound needs something like £15 million. Finally, to reach that magic 1000mph mark and achieve a land speed record that would most likely remain unbeaten forever, the bill is estimated at £25 million with a staff of 40 or so.

Entering administration is said to have given the team “breathing space” to attract new cash. Joint administrator Andrew Sheridan had this to say:

“[Bloodhound SSC is] a truly ground-breaking project that has built a global audience and helped inspire a new generation of STEM [science, technology, engineering, maths] talent in the UK.”

“While not an insignificant amount, the £25m Bloodhound requires to break the land speed record is a fraction of the cost of, for example, finishing last in an F1 season or running an America’s Cup team.

“This is an opportunity for the right investor to leave a lasting legacy. We are already in discussion with a number of potential investors and would encourage any other interested party to contact us without delay.”

Comments

luke c

Wonder why the insurance price would be if it was roadworthy

10/15/2018 - 10:50 |
9 | 0
Matt Kimberley

In reply to by luke c

Thinking of slipping a cheeky offer in to buy it, are you? ;)

10/15/2018 - 10:52 |
19 | 0
Anonymous

In reply to by luke c

Ridiculously much and you still can’t use the rockets or the turbofan on the road, maybe if you add a couple of electric motors and a generator to use the APU to move the vehicle

10/15/2018 - 11:35 |
2 | 1
Tomislav Celić

Building a rocket and putting some wheels on it is expesnive, ey?

10/15/2018 - 11:02 |
20 | 1

It is both a rocket, a jet, and a car, so I would expect it to be fairly expensive, yes.

10/15/2018 - 11:42 |
6 | 1
TheMindGarage

Jeez this project has dragged on. I remember them saying they would break 1000mph back in 2012 or something. Now it seems they’ll be called Racing Point Bloodhound and Lance Stroll will end up driving it.

10/15/2018 - 11:25 |
74 | 1
jdm-supra-1600(md squad)(Supra squad leader)

In reply to by TheMindGarage

All these land speed records is like the new Supra in a nutshell

10/15/2018 - 15:34 |
7 | 0
SupraDreams

Would love to see this

10/15/2018 - 15:11 |
0 | 0
icebreakertech

Hey Elon Musk or Richard Branson, fund this!

10/15/2018 - 16:39 |
0 | 0
Kenji (Oldsmobile Fan) (GoldWing Enthusiast) (wheel nut)

In reply to by icebreakertech

He is too busy making fighting anime robots

10/16/2018 - 01:28 |
0 | 0
Freddie Skeates

A great shame but no great surprise either. I went to visit the warehouse where they built the thing many moons ago and while it was a gold mine of engineering there was a certain lack of urgency. That’ll be where all their money’s gone - they’ve spent far too much time on it, investors don’t want to keep up for that long

10/15/2018 - 18:29 |
1 | 0
James 33

What’s even the point of this? Couldn’t the money be spent on better innovation? Do we need to go 1000mph?

10/15/2018 - 19:22 |
0 | 1
The Prius Of Brands Hatch

In reply to by James 33

We’re pushing the boundaries of engineering, that is

10/16/2018 - 06:03 |
0 | 0
Fangirl

The real question is, what’s going to be the camera car?

10/17/2018 - 01:58 |
1 | 0
Anonymous

Given the bad publicity Rolls Royce (the jet engine maker) is getting at the moment surely they can find £5million down the back of a sofa and get the job done? Richard Noble is a top inspirational bloke - his Thrust book is a brilliant read.

10/26/2018 - 21:12 |
0 | 0

Topics

Sponsored Posts