Having made his fortune, and having started to build his car collection, Wheatcroft further indulged his racing passion by running his own racing car team. In 1970 he purchased an ex-works Brabham BT26, Jacky Ickx's 1969 German Grand Prix-winning car, and entered Derek Bell for the Tasman Series' 1970 New Zealand Grand Prix. Bell finished second. Following that initial success, later that year he invested in a new a Brabham BT30 to run for Bell in the European Formula Two Championship. Bell again finished second. During the season he also entered the BT26, in full three-litre form, at the Race of Champions, where Bell suffered an accident in practice, and the Belgian Grand Prix, where the car retired.