The TY01 was designed by Tony Southgate and built by the Teddy Yip’s team in 1981. For the 1982 season Southgate prepared the new TY02 which was ready for the Brazilian GP. It featured a highly conventional design with an aluminium honeycomb monocoque, powered by Ford Cosworth DFV 3.0 V8 engine. Derek Daly signed for Theodore in 1982, and used the old Theodore TY01 for the opening race in South Africa. He finished the race in 14th position, and it was the only time when the Theodore had reached the finish line that season.
| Season | Series | Event |
| 1982 | F1WC | South African GP |
| Driver | No. | Entrant |
| Derek Daly | 33 | Theodore Racing Team |
| Scale | Manufacturer | Collection |
| 1:43 | Spark | |
| Cat. No. | Quality | Rarity |
| S4315 | 
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