Epic Racing was born from a sell out of Epsilon Euskadi and not a name change as it mistakenly written in several places.

[2] In March 2010 Epsilon Euskadi announced it applied to enter the 2011 Formula One championship, following the failure of US F1 to use the entry they had been granted.

Epsilon Euskadi sponsored EPIC Racing with public funding of the Basque Country government.

In 2013 Epsilon Euskadi ee1 founder Joan Villadelprat and Mark Phillip Payne were taken to court in Vitoria (Spain) under allegations of corruption and negligent management of public funding granted by the Basque Country government when Juan Jose Ibarratxe was president of the Basque Country.

EPIC Racing also purchased the LMP section of Epsilon Euskadi but never competed or ran the cars again.