Can this man save Bloodhound?

The major hurdle won’t be the actual amount of money required, he says: “For some companies and wealthy individuals, the amount needed is little more than loose change. And it’s a fraction of the cost of funding a team to finish last in an F1 season, or running an America’s Cup team. 

“We see this is an opportunity for the right investor to leave a lasting legacy. We’re already in discussion with a number of potential investors, and any other interested party should contact us without delay.” 

What is likely to govern Bloodhound’s prospects now, says Sheridan, is its ability to provide value for a new investor – perhaps worldwide kudos for a global business, perhaps earnings from a moonshot-style media event (the achievement of 1000mph), or perhaps the simple sense of achievement some moneyed individual could feel, having become the means by which Bloodhound achieves its objects. Stressing the return, he says, is how he intends to conduct future business. 

Time is short, however. Though now operating on a skeleton crew (when we called, only technical director Mark Chapman was ‘in’), Bloodhound continues to accrue costs. Sheridan is deeply cagey about the nature of his buyer-contacts so far, but says he is “aware” of interested parties. He estimates that most people who need to know of the Bloodhound opportunity have heard already, and that if a positive outcome is coming, he’ll have concrete indications soon. 

Founded in 2007 after an especially lively pub conversation between previous land speed record holder Richard Noble and current holder Andy Green, Bloodhound has already achieved many objectives, but not the climactic 1000mph. It voluntarily entered administration on 15 October, citing difficulties with funding since the car achieved 200mph at Newquay Airport in 2017. Sponsorship has changed greatly, its principals say, especially since the recession of 2008-9. F1 teams continually say the same: previously, it ran on 80% pure sponsorship and 20% earnings from other pursuits; now it’s the reverse. 

Bloodhound insiders say the amount it needs breaks down to around £5-£6 million to run the car at 500-600mph under jet power on its already prepared 18-kilometre track at Hakskeen Pan in South Africa. They need around £8m more to achieve 800mph and break the existing record, then a further £8m-£12m to restore the team to the 40 members needed to achieve the 1000mph goal. 

The core team at Bristol remains surprisingly optimistic. “This may be our best chance,” says Chapman. “People have had the ‘Bloodhound needs money’ message several times before, but big business always has competing priorities, and there’s a tendency to let other people do it. Now, anyone who really cares about this project knows the situation is critical.”