Due to financial problems, the team was sold to Tiago Monteiro and José Guedes at the end of November 2008 and has since competed under the name Ocean Racing Technology.

The BCN Competición project began at the 2002 San Marino Grand Prix, when Enrique Scalabroni and Jaime Pintanel (who had known each other since 1993) considered the idea of setting up a team in Formula 3000.

[1] The team was created in 2002 and their debut season was in Formula Nissan with Andrea Belicchi and Carlos Martin as drivers.

In 2004, the situation got better — the team ran veteran driver Enrico Toccacelo alongside Argentine youngster Esteban Guerrieri.

BCN was considered a threat for the new GP2 Series, alongside other top teams like Super Nova Racing and Arden.

In 2005, the team hired Venezuelan star Ernesto Viso and Japanese Hiroki Yoshimoto, anticipating at least, some victories and many points.

For 2007 BCN hired a pair of young Asian talents - Super Aguri F1 test driver Sakon Yamamoto and 2006 German F3 Cup champion Ho-Pin Tung.