What the Ferrari? Does USF1 have an exit strategy?

Standing by and champing at the bit to snatch a spot on the still-lucrative 2010 Formula One grid is Stefan GP.

All the Serbian group needs is for one of the other new F1 teams to formally acknowledge that it can't compete. Sadly, for U.S. fans, that includes the USF1 outfit based in Charlotte, N.C., which is struggling financially.

A key backer has reportedly abandoned the start-up team. And there are many other dark signs.

The season-opening Bahrain Grand Prix is only weeks away.

Under F1 rules, 13 teams are allowed to compete. As is the case with the Spanish start-up Campos, the USF1 team owns one of the coveted spots.

F1 rules, clarified recently, hold that a team can miss as many as three of the season's GPs and still hold onto a place on the grid.

As late as Thursday night in the United states, even that appeared to be a steep climb for the team founded by Peter Windsor and Ken Anderson.

Windsor, a Speed channel personality, and car designer Anderson proclaimed their intention a year ago to launch the first U.S. team in F1 competition in three decades.

But as the season races closer, reports of their struggles mount.

F1 boss Bernie Ecclestone's has very publicly voiced doubt about the team's viability, even while he's campaigned for the new Serbian team.

Argentine media have reported the dismissal of newly signed driver Jose Maria Lopez. And there are reports that other key people are leaving USF1. The building it occupies in Charlotte is also for sale.

Adding to the concerns of U.S. fans: The team hasn't told them anything. Phone calls and e-mails � not just those originating here, have been pretty much ignored. But, hey, we're just the hometown media, not the European audience they would apparently prefer playing to.

Maybe the announcement has to be made in a more formal setting. Monaco might be better.

What the Ferrari?

Boxing's corner men have to throw in towels every night. They do it, embarrassing as it is, to keep their guys from getting the crap beat out of themselves.

And, guess what? It's perfectably honorable.

There's no hiding in a ring. And when a ring is as big as Formula One's, you've got to wonder how long Ali 's rope-a-dope will work.

The Serbian team has reportedly shipped stuff � cars, equipment, tools and more � to Bahrain, just on the chance it could race in the season-opening grand prix. Popular Canadian veteran Jacques Villenueve is said to be standing by.

Are U.S. fans left to stand by? We'd all like to know what the plan is for USF1. If there is one.