Although the GR02 showed promise, and drew praise from the media, Fondmetal's financial difficulties meant that they withdrew from Formula One after the 1992 Italian Grand Prix.

[3] The aerodynamics, however, were less conventional; it featured a chiselled nosecone, and an anhedral front wing assembly,[2] with the latter being designed to channel air around the floor and diffuser.

[2] Gabriele Tarquini was selected to drive the new car, but reliability issues plagued him throughout the weekend (although he did manage to qualify 18th),[2] and his gearbox packed up on the very first lap.

[11] This, however, was not to prove a saving grace for the team, who were now so tight on funds that they could only complete a limited amount of running in practice for the 1992 Italian Grand Prix, their home race.

[12] The financial crisis meant that Rumi nearly hired Giuseppe Bugatti as a pay-driver just to get through the 1992 Portuguese Grand Prix, but he instead pulled the plug on his team due to the mounting debt.