The story concerns Mike Brookes and his Pegasus Car Company as they attempt to build and enter a two car team for the 1957 Targa Florio road race in Sicily. Pegasus build road-going sports cars but Brookes wants to take them onto an international stage to compete with the likes of Ferrari, Maserati, and Mercedes. He selects the Targa Florio as it is the toughest road race in the world, combining a car breaking mountain section with a long flat-out 180mph straight. Brookes problems are many - he has no budget, no engine, and no tyre contract, however, he does have one ace to play : himself. Mike Brookes is a superb designer and has several innovative ideas to put into the car. In addition to overcoming all the problems with the car, Pegasus also has to contend with the 1956 Suez crisis, which severly affects the car market; consequently they are being hounded by their bankers. They also have to overcome industrial espionage and the possible cancellation of the race itself, but finally the cars line up on the grid for a race which by now represents nothing less than the survival of the company itself.
