Lord Alexander Hesketh had an immense passion for motor sports and the sort of fortune that could afford him his own team to play with. He set up his operation in 1972 from his stately home at Easton Neston and at first concentrated on Formula 3 with the help of his friend Anthony Horsley. Around this time James Hunt was struggling to make a name for himself in the lower formula series. Lord Hesketh's long time friend, Anthony 'Bubbles' Horsley had become a competent, efficient team manager. Under his guidance and with promising results in 1973, the team started to be taken seriously with the financial backing of Hesketh. In 1973 Hesketh bought a Formula 2 Surtees chasis for James, who promptly crashed it in testing. Hesketh decided to go the whole hog and rented a F1 car instead.
Hunt came third in the Race of Champions at Brands Hatch and excited by the prospect of finally getting into the big league Hesketh ordered a March chasis and persuaded Harvey Postlethwaite to design a car for him. The stables at Lord Hesketh's country house 'Easton Neston', built in 1702, were converted into workshops. It was here that genious designer Harvey 'Doc' Postlethwaite, who claimed he only agreed to join the team during a moment of weakness after they got him drunk and created what is now regarded as one of the most iconic Formula 1 cars of all time. The Hesketh 308. Hunt proved that the lord's confidence in him was well-founded with points coming in France, at Silverstone and a stunning second place at Watkins Glen.
During their first season in the circus the Hesketh team was often frowned upon by the more established teams, with their penchant for parties and champagne carrying butlers in the pitlane. The team chose a Rolls-Royce Corniche and a Porsche Carrera to get them to and from the track at Monaco, with relaxation taking place off-shore on Hesketh's 162-foot yacht Southern Breeze - which was suitably well stocked with champagne and good-looking women and had a Grand Piano in the back of Pit-lane for sing songs with friends and celebrities. They partied as hard as they raced. All this simply masked the latent talent in the team.
The 308 made it's debut at the Race of Champions, Brands Hatch, 1974. Hunt put the car on Pole but spun out in wet conditions on Lap 4. At the Silverstone International Trophy a few weeks later, Hunt again stuck the 308 at the front of the grid and also set the fastest lap in the race. The hat trick was completed with a resounding victory, beating 2nd place Jochen Mass by 37 seconds. The 308 was quick but fragile. Three 3rds but 8 retirements during the Grand Prix season. With their teddy bear mascot Hesketh Racing captured the imagination of the British public, although the first championship win was still a year away.
Hunt put the car on Pole but spun out in wet conditions on Lap 4. At the Silverstone International Trophy a few weeks later, Hunt again stuck the 308 at the front of the grid and also set the fastest lap in the race. The hat trick was completed with a resounding victory, beating 2nd place Jochen Mass by 37 seconds. The 308 was quick but fragile. Three 3rds but 8 retirements during the Grand Prix season.
The 308 was upgraded to the 308B. It was stronger, it was faster and Hunt was hungry for victory. The Dutch Grand Prix; that marvelous day at Zandvoort. For once, I didn't make any mistakes' reported Hunt after holding off Niki Lauda for the last 32 laps. The crowd's favourite crossed the line a mere 1 second ahead of the rampaging Ferrari to take Hunt's first and Hesketh Racing's only victory.
But by 1976 with finances dwindling, Lord Hesketh had no choice but to shut the operation down with immediate effect. The Lord Hesketh went into politics and held a number of offices under Prime Minister Margaret Thatcher, during his Parliamentary career. Meanwhile several teams were showing interest in Hunt, most notably McLaren who needed to replace Fittipaldi who had left to drive for the family team. Hunt quit Hesketh and went on to win the 1976 world title in dramatic fashion with Mclaren
Hesketh Racing sold his cars to Sir Frank Williams, who was embarking on an ill-fated partnership with Walter Wolf. Horsley continued to race an updated version of the car named Hesketh 308D and later on also the Hesketh 308E for a few more years employing paying drivers, but few were ever of the calibre of Hunt and eventually the team was wound up. The last great romantic of British racing was gone. The team that offered hope and cheer, faded almost as quickly as they had arrived.