88 Racing is an S5000 open-wheel racing team. The principal Albert Callegher, is a passionate open wheel racer of the late 80’s & early 90s, having raced Sprint Karts for 10 years, Formula Fords, Formula Brabham (F/Holden) including an attempt to enter IMSA GTP in 1990. The passion for Formula 1 runs deep in the Callegher & Zanon family both from the Venice & Treviso Italy.
- 1988 Beverley Hills Motorsport set up Aussie Roo Racing in Los Angeles to participate in the 1990 IMSA Series in the US. This series was run in 20 cities, the most famous being the Miami Grand Prix. Popularity from all things Australian at that time, allowed a budget and sponsors to come together
- K&A Engineering developed a second Ves-kanda by 1990, called Kanda, an acronym for K and A Engineering. In 1991 with the US Recession (due to Iraq War #1), IMSA events was reduced to 15 cities and ended our opportunity with cancelled sponsorship. A new generation of cars then made the Kanda obsolete and brought back to Australia.
- 1992 November purchased Allan Gallaway Ralt RT21 (former car of Damian Hill F3000 built in 1986) a week before the Adelaide F1 GP and raced in the Formula Brabham (Holden) support race qualified 6th and finished 5th, against a 28 car field the car prepared by K&A.
- 1993 came 5th in the Australian Championship missing 1 race
- 1994 Demolished 1 car at Philip Island due to high winds taking away downforce and another chasis at the 1994 Adelaide F1 GP support race when the gearbox broke into a fast corner due to the inability of the gearbox to habdle the new found grip with a chasis rebuild;
- 1995 purchased 2 X 1990 Reynards (earliest Carbon cars) from Allan Gallaway of Alibar Farms who purchased the much faster 1992 Reynards ready for the Australiasian Championship in Indonesia NZ & Aus, in 1995 it was also the last Australian Grand Prix in Adelaide. Albert qualified 23rd due to mechanical trouble (carbon clutch replaced for the race), ended up finishing 8th behind Chris Hocking in position 7 in 2 heats;
- 1996 & 1997 drove in the Australian Grand Prix in Melbourne support race as well as Eastern Creek, which was the last race in open wheel.
- 1998 Surfers Indy GP hiring an Auscar from Marshall Brewer, qualifying 16th finishing 15th in a 30plus car and fell asleep from boredom then decdied to focus on business activities with the demise of Formula Holden.