The billionaire, Calvin Lo, is looking to invest in a new F1 team
Based in Hong Kong, billionaire Calvin Lo expressed his desire to invest in one of the candidates to join Formula 1 in 2026.
Already involved in the Williams team since its sale to Dorilton Capital in 2020, Hong Kong investor Calvin Lo had already expressed last year his desire to join an existing team on the F1 grid. Now, it appears that he’s leaning towards the idea of joining one of the existing projects to form a new team with the aim of entering in 2026.
If Andretti-Cadillac or Hitech GP doesn’t seem to interest the businessman, it suggests that the Panthera Team Asia project is in the businessman’s sights.
« The financial aspect, believe it or not, is actually not the biggest problem, emphasized Mr. Lo, who is undoubtedly referring to the teams demanding at least $600 million in entry fees for new entrants.
« It is actually about gathering all the expertise, mechanics, and the entire team into one unit. At the moment, a few opportunities are arising and we are discussing very seriously with a few teams. »
Without naming any team, the philanthropist said, “I wait, I observe the reports, the numbers to be certain that everything is going well in the long term.”
He specified that a team he was discussing with had already submitted a registration request and that another one was still working behind the scenes.
The deadline for official applications from potential teams is set for April 30 – the Sunday of the Azerbaijan Grand Prix – although the FIA specifies that this date could be slightly shifted for administrative reasons.
