to retire the team and to rethink his involvement in racing and ended most of his other activities to concentrate on F1. With Sid Taylor and Julian Randles he established Theodore Racing Ltd. and recruited Tony Southgate and team manager Jo Ramírez. The new car was dubbed the TY01 and was driven by Patrick Tambay at the start of 1981. In mid-season Tambay moved to Ligier and Yip gave the drive to Marc Surer. The same car was developed in 1982 and it became obvious that small teams could not easily survive in the turbo era. Yip merged Theodore with Ensign and used the Nigel Bennett-designed Ensign N183 design as a Theodore. The team hired Johnny Cecotto and Roberto Guerrero but at the end of that season the team shut down and Mo Nunn moved to America, where he enjoyed great success as a race engineer through the 1980s and into the 1990s and eventually set up a successful team of his own in CART. 1983 also saw a guest drive in a Theodore by former Grand Prix driver Brian Henton at the non-championship 1983 Race of Champions where he finished fourth, the highest a Theodore finished all season. Macau Grand Prix Yip ran a team each year at the Macau GP until the late 1980s and in 1983 was behind the switch from Formula Atlantic rules to Formula 3. The result was a huge success and Theodore Racing has won the event a record seven times, notably with Ayrton Senna in the first year of F3. In October 2013, it was announced that the name Theodore Racing would be revived by Teddy Yip's son, Teddy Yip Jr., for the 2013 Macau Grand Prix to mark the 30th anniversary of Senna's victory in the event. After Briton Alex Lynn won the race, Teddy Yip Jr. said, "This was a fairytale way for the Theodore name to return to the great Macau Grand Prix in its anniversary year. To be with SJM to witness Alex's victory is an emotional day, and a fitting tribute to my father's contribution to this great Macau event." Teddy Yip Jr. joined forces with Formula Three Champions, Prema Powerteam for a second consecutive year in 2014, entering a three car Macau Grand Prix team with drivers Nicholas Latifi, Esteban Ocon and Antonio Fuoco. Latifi finished fifth with Ocon crashing out during a battle for the lead