Enzo Coloni had been a successful F3 driver himself in the early eighties winning the Italian Championship and he formed his own team Coloni Motorsport to run his car. After his retirement he continued to run other drivers winning the European Championship in 1984 with Ivan Capelli. In 1987 he entered F1, for three years he struggled to even qualify his cars for races as a lack of finance saw the team unable to progress. After these problems Coloni retired back to the more junior formula where the company is still active, they recently built the cars for the successful Spanish Nissan Open Championship.
  
Pre-release sketch of the FTS.
The FTS 392 was so called due to sponsorship from an Argentinean bank called FTS. The car was designed in conjunction with the University of Perugia and entered in the Italian championship for Enzo's son Paolo. Results for the Alfa-Romeo car seem to have been undistinguished with just a 6th at Magione in addition it just failed to qualify for the Monaco GP support race.
 
  
A new car, the 393, appeared in 1993, no details are available other than it qualified last on the grid at Monaco and crashed out after 10 laps.
 
Drivers:  
   
1992

Paolo Coloni.

   
1993

Nicola Bertolucci.