Saanich police say they've arrested a man accused of stealing expensive equipment used by the University of Victoria's formula motorsport team.

The team discovered about $3,000 worth of parts were stolen, including their formula car's entire steering system, on April 24.

The theft occurred just days before the team was set to ship the specially designed race car to Michigan for an event, and students were forced to put up their own money to replace the parts.

"It's just a bit of adversity right? We just have to push through it," team lead Ryan Vorster told CTV News at the time. "The best teams deal with adversity well, and I think we've really done that."

A break in the case came when investigators with Saanich's street crime unit found some of the stolen car parts listed for sale on UsedVictoria.

On May 8, officers identified the man trying to sell off the parts and arrested him on a charge of possession of property obtained by crime.

Police say the 48-year-old suspect is "well-known" to them and he was scheduled to make a court appearance Thursday morning.

The stolen parts were recovered and have since been returned to the team, which is now in Michigan for the competition.

"The university will be arranging expedited delivery of the parts to the team," Saanich police said in a news release. "We wish them the best of luck during their competition year!"

Last year, the UVic motorsport team was in the top 10 for the best design category, a feat they were hoping to accomplish once more in 2019 despite the setbacks.