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 V8 of five liters displacement. It started as a bright idea in 1967 and ran successfully until politics between 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 & M Championship after title sponsor L & 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 rules allowed the turbocharged Offenhauser engine to run, the engine that dominated the series was the Chevrolet five-liter V8 that could put out a reliable 550 bhp and 425 lbs-ft 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 V8-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 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 money. One of the most important factors in determining current market value is the cost and quality of the restoration. It is also important to note that currently, in New Zealand, Australia and Great Britain, F5000 cars have a greater following than in America and, therefore, command a greater value. This, combined with currency rates, import duties and VAT, can create a 25-35 percent premium in the estimated value of the vehicle in these countries.

1973 Elfin Mark 5

The Elfin Sports Car Company is the oldest continuous sports car manufacturer in Australia. It was founded in 1957 by driver and designer Garrie Cooper. Elfin Cars won 29 major championships and were driven by such notable drivers as World Champion James Hunt, Didier Pironi, Vern Schuppan, Larry Perkins, Bob Jane and Frank Matich. Formula 5000 was very popular in Australia and New Zealand, as well as in England and America. Elfin’s 1973 F5000 entry was the Mark 5. It was a sturdy, well-built car, in compliance with the F5000 rules and featured V8 power, Hewland gearbox, etc. Only four cars were built, though the design was followed by the Mark 6, 7, 8 and 9. This family of cars continued to race well into the early 1980s. The factory entered a car as the Ansett Elfin Team. These cars are a part of Australia’s rich motor racing heritage and are very popular down under.

Surtees TS5, TS8, TS11

John Surtees, who had been a motorcycle and Formula One World Champion, became a racecar constructor when he took over the Len Terry-designed Leda F5000 project. A redesign of the project brought about the Surtees TS5 F5000 car in 1969. Even though Surtees built Formula One cars, the F5000 racecars brought Team Surtees some of its greatest victories, and enabled them to sell cars to racing customers. The TS5 had a full monocoque chassis, conventional suspension and a five-liter Chevrolet V8 mated to a Hewland 5-speed gearbox. Noted drivers were David Hobbs, Andrea de Adamich, and Trevor Taylor. Taylor finished 2nd in the 1969 Guards F5000 Championship. The 1971 TS8 was much improved and brought Surtees even greater success. It was driven by Mike Hailwood, who won the first time out and finished 2nd in the Rothmans Championship. The 1972 TS11 F5000 was based on the TS9 Formula One car and was driven by Gijs van Lennep, who won the European Championship.

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.