Perry McCarthy secured a Formula One place in 1991 when signed by Footwork after impressing in a variety of formats including Formula Ford, Formula 3 and F3000. His first drive did not come until he switched to the new and sadly shambolic Andrea Moda team. The team was an embarrassment, with the nadir for McCarthy coming when his car broke down 18 yards after leaving the pits. He had initially been refused the necessary super licence and it became apparent McCarthy was there to make up numbers and the team could not fund two cars. He never managed to make the grid to start a grand prix. He subsequently tested for Williams and Benetton.

In 2002 he appeared at Le Mans, and published an autobiography Flat Out, Flat Broke, in which he spoke about his time in Formula One and revealed he was the original Black Stig on the BBC's Top Gear. As a result he was killed off during the second series and replaced by the White Stig. He now works as a corporate ambassador and after dinner speaker.