Despite Theodore “Teddy” Yip’s considerable financial resources, the cost of Formula 1 in the early 1980s continued to rise steadily, and Theodore Racing’s dual commitment to both Formula 1 and the American Indy championship created significant difficulties for the team. For this reason, in an effort to contain expenses, and considering the fairly decent performance of the TY01 in the 1981 season, Theodore Racing decided to start the 1982 championship using the old car, driven by Derek Daly.
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| THEODORE TY02, Jan Lammers Zolder, Belgian GP 1982 |
Only from the second race of the championship was the car updated to the TY02 version, an upgrade designed by engineer Tony Southgate at the former Shadow workshops in Northampton, United Kingdom. The unattractive front wing was removed, the nose became narrower and more angular, the sidepods were slightly lengthened and ended in two fins positioned in front of the rear wheels.
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| THEODORE TY02, Jan Lammers Montecarlo, Monaco GP 1982 |
As seen on many other cars, on some occasions two squared air intakes appeared alongside the cockpit to feed the Ford-Cosworth DFV V8 engine, which once again powered the TY02 this season, paired with a Hewland gearbox. The TY02 turned out to be less competitive than the previous year’s car and only brought Teddy Yip disappointment, with multiple failures to qualify and a series of retirements in the six Grands Prix for which it managed to qualify.
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| THEODORE TY02, Tommy Byrne Österreichring, Austrian GP 1982 |
For the British constructor with a Hong Kong passport, the only finish under the checkered flag came at the first Grand Prix of the season in Kyalami, South Africa, where Daly took the old TY01 to fourteenth place. Meanwhile, the TY02, despite being driven by four different drivers throughout the season (Derek Daly, Jan Lammers, Geoff Lees, and Tommy Byrne), never managed to finish a single race.
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| THEODORE TY02, Tommy Byrne Dijon-Prenois, Swiss GP 1982 |
The season ended dismally, and the increasing disinterest of the few remaining sponsors made life difficult for the team, which had already abandoned development of the car. In a last-ditch effort, they tried to finalize a deal by year’s end that would merge the team with Morris Nunn’s Ensign outfit ahead of the 1983 season.
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