Millionaire entrepreneur Afzal Kahn has splashed out a record £440000 for the legendary 'F1' number plate.
The 37-year-old who runs a car design company in Bradford said yesterday: "It stands for Formula 1 and was worth every penny.
"Everyone will recognise my number now. It's a great number on a great car."
The number plate was auctioned by the Essex County Council to raise funds for a charity that will raise the standards of young drivers.
Council leader Lord Hanningfield said: "It will be with some sadness that we will be losing this little piece of Essex history."
The record number plate will be placed on Kahn Design's groundbreaking Range Rover Cosworth, which will be launched soon.
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