Bloodhound SSC team needs money for land speed record

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The behind the Bloodhound SSC car has run into yet another financial roadblock in its over-10-year project. The company, Programme Ltd., announced that it has gone into administration — meaning, outside administrators have taken control — because it has run out of to pay its debts. As such, the company is seeking investment to finish paying off debts and completing the project. The total needed: 25 million pounds, or $32.9 million at current exchange rates.

One of the two administrators handling Bloodhound’s financial issues noted that the company is in talks with some potential investors. The other one noted that the total investment cost is less than funding a last-place Formula 1 team. Presumably the idea is that instead of tying a company name to a losing racing team, you could tie it to a vehicle that will be noteworthy now and for years into the future.

Despite the financial hurdle, the project sounds as though it’s still on track. One of the administrators noted that the company could still make a record attempt roughly 10 months from now if funding is secured in time. That’s right in line with the previously announced date of fall 2019, even a little earlier. The test date was based on some test runs up to 200 mph, and finding a location to drive the car. The team includes members of the old Thrust SSC land speed record car team — especially pilot Andy Green — and the goal for the Bloodhound is 1,000 mph.

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