Gallery: F1 teams that became defunct in the last 25 years

After the acquisition of Stewart Racing, Ford brought its iconic brand Jaguar into Formula 1. The manufacturer had high hopes from the very onset, targeting a top-three result in the championship. However, Jaguar could never achieve the kind of results in F1 that its owners desired, with a seventh place in 2003 being the best championship finish in its five year history. Eventually, energy drinks giant Red Bull bought the team at the end of 2004, ending Jaguar's involvement in motorsport.

Amid the global recession that shook the automotive industry, Toyota pulled the plug on its F1 outfit in 2009. Despite throwing hundreds of millions in the Cologne-based team, Toyota could not even manage a single victory during its eight year history.

Despite steel magnate Alex Shnaider effectively completing the takeover of Jordan in 2005, it was not until the next year that the team was renamed Midland. However, Shnaider quickly retracted on his investment, selling the team to a Dutch consortium.

The Dutch consortium that so purchased the team renamed it as Spyker. Markus Winkelhock led the European GP in treacherous conditions, but it was Adrian Sutil who scored team's first points in Japan. At the end of the year, Indian businessman Vijay Mallya purchased a majority stake in the outfit and renamed it as Force India.

After supplying engines to Brabham in the 1980s and running a close partnership with Williams, BMW finally launched a factory effort in 2006 following its acquisition of Sauber. The team achieved promising results in 2007 and '08, with Robert Kubica winning the Canadian Grand Prix. However, the global recession took its toll, forcing BMW to withdraw its backing in 2009. Peter Sauber bought back the team, which continued to run under the BMW Sauber name in 2010.

Honda returned to Formula 1 as a full-fledged manufacturer in 2006 with the purchase of BAR, having previously competed briefly in the 1960s. After a promising first season, the team struggled to be competitive in 2007 and '08. The advent of recession led to Honda exiting F1, one year before Toyota and BMW followed the same path.

Built from the remains of Honda, Ross Brawn's eponymous team achieved in its first race what the Japanese manufacturer couldn't achieve in three years - win a race. The outfit went on to win both the titles before selling it to Mercedes, who had supplied engines to the team after Honda's exit.

Manor was one of the three teams to enter F1 in 2010, but ran under the Virgin Racing banner to promote Richard Branson's empire. However, the team's CFD-only approach failed, with Cosworth engines also proving uncompetitive.

After a poor first season, Branson offloaded the shares and sold the team to Marussia, a Russian manufacturer. Results continued to prove hard to come, although Ferrari-affiliated driver Jules Bianchi finally scored team's first points in Monaco in 2014. However, Bianchi met an unfortunate accident a few races later in Japan, which took his life. Marussia missed the last few races of the season amid financial trouble and was put under administration.

Ovo energy boss Stephane Fitzpatrick rescued Marussia from administration and brought much needed funding to the team, which was renamed Manor. After running an year-old car in 2015, the team developed a brand new chassis for 2016, mated to the pace-setting Mercedes engine. Pascal Wehrlein scored a point in Austria, but Fitpatrick pulled the plug at the end of the season after failing to find a business partner.

Lotus Racing/Team Lotus/Caterham (2010-2014)

Lotus joined F1 as part of FIA's new entry process in 2010. Supported by the Malaysian government and a consortium of companies including Proton and Air Asia, it had no links with Colin Chapmin's legendary team of the same names. Results proved to be hard to come for the Lotus, despite the team employing an experienced driver line-up of Heikki Kovalainen and Jarno Trulli in its first season.

For 2011 the team changed its name to Team Lotus amid a dispute with Lotus Cars. Results showed notable improvement, but the team was still far off a top-10 results.

Tony Fernandes renamed Team Lotus to Caterham to promote the car company of the same name. Due to lack of success, Fernandes started to lose patience and sold the stake to a consortium of investors in July, 2014. However, the team didn't last for too long under new ownership, missing two races and making an appearance in Abu Dhabi using money generated through crowdfunding. However, lack of funds for the upcoming season meant the team was never seen on the F1 grid again.

HRT was one of the three teams that entered F1 in 2010. And much like the other two, it struggled to be competitive. The team went through several ownership changes before going bankrupt in 2012.

When Renault decided to exit F1 as a constructor, its Enstone-based team was bought by venture capitalist Genii, which renamed the team as Lotus. The team brought 2007 world champion Kimi Raikkonen out of retirement, the Finn scoring two wins and multiple podiums before returning to Ferrari amid delay in payment of salary. Lotus' performance started to dwindle after Raikkonen's departure and Genii sold the team back to Renault at the end of 2015.

Founded by Aguri Suzuki and supported by Honda amid public pressure to keep local Japanese driver Takuma Sato in F1, Super Aguri existed in F1 for a brief period in late 2000s. The team collapsed four races into 2008 with, er, financial problems.

Lured by rival clothing brand Benetton, Andrea Sassetti started his own team under his company name, Andrea Moda. But lack of expertise and budget was evident, and the team ran into issues with several parties, including drivers and suppliers. Sassetti was arrested in the paddock for allegedly forging invoices and FIA eventually banned the team from competing in F1.

Ligier had a long and illustrious history in F1, with the privately-entered team achieving nine victories in total - the last of which came courtesy of Olivier Panis in Monaco, 1996. Ligier was sold to four-time world champion Alain Prost, who renamed the outfit as Prost GP.

Owned by British American Tobacco at the height of tobacco sponsorship in F1, BAR achieved a fair amount of success - with a second place finish in 2004 constructors championship being the highlight. It was eventually sold to Honda.

Gérard Larrousse started an F1 team in 1987 along with his partner Didier Calmels. The team initially ran under the the Larrousse-Calmels banner and ran a 'kit-car' built by chassis manufacturer Lola. The team achieved a podium finish in 1990, courtesy of Aguri Suzuki but the later years were tougher. Larrousse went through multiple changes of engine and chassis suppliers, before financial troubles forced it out of F1.

Jack Brabham's eponymous outfit won two drivers' and constructors' title in a row in 1967 and '68, with Brabham himself taking top honours in '67. The team found more success in the 1980s, when its ownership was firmly in the hands of Bernie Ecclestone - with cars designed by Gordon Murray and powered by BMW engines. The team was reborn in 1989 and Stefano Modena took a maiden podium at Monaco. In 1992, the team left F1 for the second and the final time.

After running a team in Formula 2, Giancarlo Minardi entered the F1 fray in 1985. Although it never finished higher than eight in the championship, it developed a cult following for itself. Minardi gave debuts to several successful F1 drivers including Fernando Alonso and Mark Webber. During its history, Minardi went through several changes of ownership, with American businessman Paul Stoddart most recently buying it in 2001. Red Bull eventually took over at the end of 2005, renaming it to the present-day Toro Rosso.

After two seasons collaborating with Matra, Ken Tyrrell decided to do without the French manufacturer and run a team in his own colours. The first years of Tyrrell turned out to be most successful, with Jackie Stewart winning titles in 1971 and '73. This was followed by a slow, but prolonged period of decline which ended when British American Tobacco took over the squad and renamed it BAR from 1999 onward.

Team Lotus in 1990s was only a shadow of its former, multiple-title winning self, whose designer Colin Chapman grew a reputation of pushing the boundaries of regulations with his awe-aspiring cars. Lotus scored its last podium in 1988 courtesy of Nelson Piquet and left at the end of 1994. Team Lotus name returned briefly in 2011, although it was a completely different entity.

Benetton, under the leadership of flamboyant businessman Flavio Briatore, gradually moved up the ranks before achieving success in the mid-1990s. Michael Schumacher won the first two of his seven titles with Benetton in cars engineered by Ross Brawn and Rory Bryne. But after the three men jumped ship to Ferrari, Benetton's form started to decline, prompting Renault to purchase the team.

After success in F3000, Eddie Jordan's team made a natural progression to F1 in 1991. Jordan Grand Prix made a promising start and gave debuts to Michael Schumacher and Rubens Barrichello. It entered its golden age in late 1990s, taking several victories and finishing third in 1999, just behind Ferrari and McLaren. The next millennium was less successful, and exit of primary sponsor DHL sealed the fate for Jordan in 2005.

Footwork purchased Arrows for the 1991 season, with results in first year being appalling at best. However, Footwork managed to score some points in coming seasons, with team's positions ranging between seventh and ninth in the standings. Footwork was purchased by Tom Walkinshaw and associate Peter Darnbrough in March 1996.

After a little under 10 years running teams in F3 and Formula 3000, Paul Stewart - son of multiple F1 champion Jackie - set up his own F1 team in 1997. Despite the poor reliability, Rubens Barrichello finished second at Monaco during the team's first season. 1999 was the best year for Stewart, with four podiums including a victory at the European GP by Johnny Herbert. At the end of the year, Ford - which had been gradually buying shares in Stewart - outrightly purchased the team and renamed it as Jaguar.

Lola tried its luck as a full-fledged constructor in 1997, with backing from Mastercard. Its sole F1 car, the T97/30, was built in a few months without a windtunnel. It failed to qualify for the first race of the season, being 11 seconds off the pole time, and subsequently withdrew from the sport.

Arrows was reborn in 1997 under the leadership of Tom Walkinshaw. The team grabbed headlines by signing defending champion Damon Hill, who missed out on a victory in Hungary. Overall, though, the results were disappointed and the team folded after the 1993 season.

March existed in F1 through various periods, but received most of its success in early 70s, with Ronnie Peterson finishing runner-up in 1971. Team also ran under Leyton House and RAM banners before leaving F1 for the final time in 1992.

Four years after his last F1 title as a driver, Alain Prost started his own F1 team in 1997 by purchasing Ligier. The first season saw the team score two podiums, before the momentum was broken by Olivier Panis' injury in Canada. Prost achieved only one more podium in its history, Jarno Trulli finishing second at the 1999 European Grand Prix. Over the years relationship with engine supplier and backer Peugeot deteriorated , with increasing debts eventually leading to team's demise.

Fondmetal was formed through acquisition by Gabriele Rumi who owned, among other brands, an alloy wheel manufacturing company of the same name. Despite being ambitious, Rumi couldn't get the design office to prepare a competitive car in time, or secure a supply of reliable and powerful engines. The 1992 Italian GP was the last for this largely forgotten squad.

Initially conceived to provide chassis to other teams, Simtek started competing under its own name in 1994. The first season was overshadowed by the death of Roland Ratzenberger at the infamous 1994 San Marino Grand Prix. 1995, however, appeared to be more promising with the support of Flavio Briatore and incoming of Jos Verstappen in the driver line-up. A financial package was expected from Japanese sponsors, but a major earthquake meant that the money never reached the team's coffers. The team collapsed five races into the season.

Pacific was another team that joined F1 after success in lower formulas. With a workforce of just 30 people, it entered grand prix racing in 1994. However, it was evident from the very beginning that Pacific wasn't going anywhere. The team barely qualified for five races in 1994. 1995 wasn't much better despite a merger with Team Lotus, more sponsors and a whole host of pay drivers.

Supported by Pedro Diniz's sponsor Paramalat, Forti Corse entered grand prix racing in 1995 with a hybrid F1-F3000 car. Inevitably, the car was far off the pace. After Diniz's exit from the team, financial situation became precarious and its short journey in F1 ended midway through 1996.