Thursday 2 July at 09:59 : Jul.2 (GMM) As the global economic recession bites, two prominent motor racing series are in dire straits

For the Middle East and Asia-based stock car series Speedcar, the end of the road has come. The official website is off the air amid reports the organisation has been closed down after just two seasons

Speedcar featured stock cars driven by mainly ex-F1 drivers, including Jacques Villeneuve, Jean Alesi, Johnny Herbert, Heinz-Harald Frentzen and Vitantonio Liuzzi

Meanwhile, it is reported that the future of the A1 GP series is in serious doubt, following the collapse of the British arm of the organisation

A1 Grand Prix Operations Ltd ran the day-to-day administration of the championship but went into liquidation last Wednesday, the Telegraph newspaper said

"Like many other companies in today's difficult economic environment, we had cashflow problems and we haven't been able to pay them (the suppliers)," a spokesman confirmed