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Although the Formula 1 series is expected to continue Red Bull dominates, which struggles to liven up the show’s appeal, there’s a joy in the seeming monotony of doing it all with a full box office run. The inevitable “side effect” of ever more racing and the huge profits that come with it is the expansion of the circus. Therefore, the FIA, which governs the sport, submitted “Declarations of Intent” in January I startedso that the new stables could join the existing 10-team field, possibly as early as 2025.
McLaren CEO Zak Brown believes there are at least four potential teams interested in joining the sport, as Formula 1 regulations only allow two more slots. The FIA wants to make a decision by the end of June on which teams will be given the chance to play the big game.
Audi has already confirmed its entry in 2026, replacing Alfa Romeo (Sauber), while the American giant Ford has signed a partnership agreement with Red Bull. Australian billionaire David Dekker also enters In contention for the new team advanced to the F1 grid.
However, a potential new team owner who is a real curiosity has now entered the field, who will start the first Chinese team. Hong Kong billionaire Calvin Law is the CEO of RE Lee International, the world’s largest life insurance broker. The 45-year-old has been hooked on the sport ever since he watched Michael Schumacher and the then unbeatable Ferrari on TV in the early 2000s.
“I am in serious negotiations to enter the race,” he said. for freelancers.
F1 needs more teams. There is so much talent in motorsports that there aren’t more teams. I’m looking at a few options to see how I can get involved.
The entry fee for any new team is $200 million, which must be paid jointly with existing teams. Mercedes boss Toto Wolff has previously noted that a realistic $1 billion is needed for the challenge at the top, and Low agrees that amount is “realistic” given the underlying recruitment and development costs.
“It’s not about putting money into the team and that’s hard, it’s about making sure it’s sustainable, otherwise it’s embarrassing for everyone. It’s very complicated, even with a well-established team, with care and detail.
“There is huge potential in this part of the world – expanding into Asia would be very beneficial for both the Asian community and the Formula One ecosystem,” he said.
Lo works in the shadows
The billionaire, who is widely seen as “mysterious” or “under the radar,” according to Forbes, has a net worth of $1.7 billion, despite his luxurious lifestyle, which can also be considered extravagant – he owns a series of supercars or , for example, the multi-million dollar high-end champagne lighters.
“I would like to have an Asian team based in the Pearl River Delta (the richest region in southern China). The first few seasons may be difficult, but it is important for the sport to get more exposure and participation here.”
Currently, he also has an Asian background and resides in Great Britain, who also aspires to F1 Panthera Asia TeamThe association with seems most likely. Lo also has financial ties to the Williams F1 team, which was bought by private equity firm Dorilton Capital nearly three years ago.
In the history of F-1, there have already been attempts to assemble a Chinese team, in 2017, for example, a company owned by a French lawyer appeared, China F1 Racing Team Ltd. – Previously managed as Bronze Fortune Limited and operated in Great Britain. and in the early 2000s under the name of Shangsai FRD Grandtour Tire The team is created In China, which, according to the hopes of the creators, was to become a member of the express circus within a tight deadline.
