Formula 5000 was a racing series for open-wheel, single-seater racing cars built to a specific set of rules. The engine of choice was the venerable small block Chevrolet V-8 of 5.0-liters displacement. It started as a bright idea in 1967 and ran successfully until politics among the governing body, race organizers, and team owners did it in at the end of the 1976 season.
Although there were four competitive Formula 5000 championships: the Rothmans series in Europe, the Tasman series in Australia and New Zealand, and the Tarmac series in Britain, the heart and soul of Formula 5000 was the North American series. In the early 1970s, it was known as the L and M Championship after title sponsor L and M Tobacco. In 1974, the SCCA and rival governing body USAC merged to run Formula 5000. A variety of chassis manufacturers took part, but the car that dominated the later years of the series was the Lola T332.
Even though the revised rules allowed the turbo-charged Offenhauser engine to run, the engine that dominated the series was the Chevrolet 5.0-liter V-8, which could put out a reliable 550 bhp and 425 ft-lbs of torque at 8,000 rpm. In fact, it would have been an all-Chevrolet victory season if not for Jackie Oliver winning two races in a Dodge V-8–powered Shadow DN6.
Even though many top drivers such as Mario Andretti, Mark Donohue, David Hobbs, James Hunt, Alan Jones, Jackie Oliver, Jody Scheckter and Al Unser Sr. took part, the dominant driver one associates with Formula 5000 is Brian Redman, who won the championship in 1974, 1975 and 1976.
Today, Formula 5000 cars represent a lot of racing performance for one’s dollar. In fact, one of the most important factors in determining value is the cost and quality of the restoration.
In the U.S., F5000s have eligibility under the Monoposto register’s Formula 70 rules, and run with many historic clubs.
| Make | Model | Acceptance | Level III | Level II | Level I |
| Begg | FM2,FM4,FM5 | 3 | $35,000 | $40,000 | $50,000 |
| Caldwell | D8 | 3 | $35,000 | $45,000 | $55,000 |
| Chevron | B24 | 3 | $50,000 | $65,000 | $75,000 |
| B28 | 3 | $45,000 | $60,000 | $70,000 | |
| B37 | 3 | $45,000 | $60,000 | $70,000 | |
| Cooper | T90 | 3 | $35,000 | $45,000 | $55,000 |
| Crossle | 15F | 3 | $35,000 | $45,000 | $55,000 |
| Eagle | 1968 | 3 | $40,000 | $50,000 | $60,000 |
| 73A | 3 | $50,000 | $65,000 | $75,000 | |
| 755 | 3 | $55,000 | $70,000 | $80,000 | |
| Elfin | MR5, 6, 8, 9 | 3 | $45,000 | $60,000 | $70,000 |
| Leda | LT20, 22, 25 | 3 | $35,000 | $40,000 | $50,000 |
| LeGrand | Mk7 | 3 | $35,000 | $40,000 | $50,000 |
| Lola | T140-142 | 3 | $35,000 | $45,000 | $55,000 |
| T190 | 3 | $40,000 | $50,000 | $60,000 | |
| T191, 192 | 3 | $40,000 | $50,000 | $60,000 | |
| T300 | 3 | $60,000 | $65,000 | $80,000 | |
| T330, 332 | 3 | $65,000 | $85,000 | $95,000 | |
| T400 | 3 | $60,000 | $80,000 | $80,000 | |
| Lotus | 70 | 3 | $60,000 | $70,000 | $80,000 |
| March | 73A | 3 | $40,000 | $50,000 | $65,000 |
| 74A, 75A, 76A | 3 | $45,000 | $55,000 | $65,000 | |
| McKee | Mk8 | 3 | $35,000 | $45,000 | $55,000 |
| Mk12, 18 | 3 | $35,000 | $45,000 | $55,000 | |
| McLaren | M10A, B | 3 | $60,000 | $75,000 | $85,000 |
| M18 | 3 | $55,000 | $65,000 | $75,000 | |
| M22 | 3 | $55,000 | $65,000 | $75,000 |
| McRae | GM1 | 3 | $45,000 | $55,000 | $65,000 |
| Shadow | DN6 | 3 | $50,000 | $70,000 | $80,000 |
| Spectre | HR-1 | 3 | $35,000 | $40,000 | $45,000 |
| Surtees | TS5, TS8 | 3 | $40,000 | $50,000 | $60,000 |
| TS11 | 3 | $45,000 | $55,000 | $65,000 | |
| Talon | MR1 | 3 | $35,000 | $40,000 | $50,000 |
| Trojan | T101 | 3 | $35,000 | $40,000 | $50,000 |
| T102 | 3 | $35,000 | $40,000 | $50,000 |
Shadow DN6
Don Nichols’ Shadow cars, which had success in Formula One with the Tony Southgate–designed cars and in the Can-Am, ventured into F5000 with the DN6. This car was a variation on their Formula One car the DN5 (pictured) and was striking to look at. Nichols chose a V-8 engine from Chrysler-Dodge; quite a unique combination. The car was driven by Jackie Oliver and did claim the occaisional victory.
Lola T332
The Lola T332 had an aluminum alloy monocoque chassis and used the engine as a semi-stressed member. Suspension was by adjustable A-arms and outboard coil spring shock absorber units. Brakes were by Girling discs outboard at the front and inboard at the rear. The engine was the 305-cu.in. (5,000-cc) Chevrolet V-8 hooked up to a Hewland DG300 five-speed gearbox. Total weight was 1,350 pounds. The Lola T332 scored more points, won more races and championships than any other racecar in the series. These highly competitive cars were driven by a host of top-line drivers including Mario Andretti; Brian Redman; Al Unser, Sr., David Hobbs and James Hunt.
Criteria Used For Assessing Valuations for this Guide:
- Degree of Originality
- Overall Condition, Restoration
- Technology, Design, Coachbuilder
- Production Numbers/Rarity
- Competition History
- Ownership History, Documentation
- Modern Event Eligibility
Regional Variances
The prices stated in this guide are based on U.S. values. The values of historic racing cars can vary as much as 25%-35% in other countries, depending on local market appeal, currency rates, import duties, and VAT. Most of the time, we are able to document known sales or closed escrows, as they say in real estate. When this is not possible, a logical estimate of the car’s value is given, based on its sales history and relationship to cars of its type.
The prices stated in this guide are based on U.S. values. The values of historic racing cars can vary as much as 25%-35% in other countries, depending on local market appeal, currency rates, import duties, and VAT.
LEVEL |
VALUATION CATEGORIES |
|---|---|
I |
The best combination of all criteria. |
II |
Satisfies mid-range of criteria. |
III |
In need of restoration. Meets only a few points of criteria |
