While funding issues caused the Bloodhound SSC team to delay its quest for the world land-speed record last year, the £25 million shortfall that the team announced this week may torpedo the streamliner’s chances of setting any records at all, leaving just one contender actively pursuing the record at the moment.

According to the team, Bloodhound Programme Limited entered into administration on Monday, with the administrators – Andrew Sheridan and Geoff Rowley, both of specialist business advisory firm FRP Advisory LLP – declaring that the company behind the British land-speed record effort will need additional investment to keep the project going.

It will take a hefty infusion of cash to keep this land speed record attempt on schedule.