referendum on Britain's membership of the European Union. During the years 2011/12 Hesketh donated approximately £31,000 to that party. Business Known for his love of motor racing, Hesketh founded Hesketh Racing in 1972, best known for competing in Formula One from 1973 to 1978. The team was famous for its flamboyant and patriotic approach to the sport and for refusing sponsorship. Between 1973 and 1975 the team had some success with the English driver James Hunt, including winning the 1975 Dutch Grand Prix. He later was president of the British Racing Drivers' Club, from 1993 to 2000. Hesketh formed Hesketh Motorcycles plc. In 1982 a modern purpose built factory was set up to manufacture the Hesketh V1000 motorcycles in Daventry. However, there were numerous problems. The bikes were heavy, made worse by a high riding style; and unreliable, with numerous manufacturing problems adding to an overheating rear cylinder due to lack of air flow. The resultant bad press combined on top of an under-developed bike, lack of cash and a collapsing market meant that after the production of 139 bikes, the company went into receivership. The Triumph Motorcycles co-operative looked at buying the rights to the machine, as they lacked a new model beyond the aged Triumph Bonneville. A V1000 machine even appeared with a Triumph badge on its tank, but Triumph also lacked funding to buy and develop the machine. In 1983, Lord Hesketh formed a new company called Hesleydon Ltd to manufacture a revamped V1000 with a full fairing, called the Vampire. However, although the company had produced a motorcycle with export potential in mind, the Vampire retained too many of the V1000's faults and only 40 were produced before the company closed again in 1984. In 1994 Hesketh helped set up British Mediterranean Airways (BMED). He also became chairman of the new airline – a role in which he continued until early 2007, when BMED was purchased for £30 million by UK Airline BMI. He subsequently served as an "independent director" of Air Astana, the national carrier of Kazakhstan. Hesketh joined the board of Babcock International Group on 6 October 1993, becoming non-executive Deputy chairman on 26 April 1996. He was forced to resign in November 2010 after a comment regarding the Royal Navy's new s to The Daily Telegraph newspaper, in which he was reported as saying the project would make the country a "laughing stock".