News
Billionaire Lo looking at investment in new F1 team
Lo became a potential investor in the sport last year, though he was initially hesitant about whether he wanted to join an existing team or take on a new project.
He now seems to prefer the route of joining a potential new team looking to join the sport.
The deadline for formal applications from potential teams is April 30 – the Sunday of the Azerbaijan Grand Prix – although the FIA said “slight changes are possible for administrative purposes”.
Lo, chief executive of RE Lee International Insurance, has been involved with the Williams team since its sale to Dorilton Capital in 2020, although he declined to expand its scope.
“I can say that the team is co-invested through investment companies involved,” he told Reuters.
“I think that’s the most I can say, especially now that we’re probably bidding on a new team for 2026.”
Reuters noted that Lo ruled out any bids for Andretti/Cadillac and Hitech GP, suggesting that Panthera Team Asia could be an obvious target.
Max Verstappen, Red Bull Racing RB19, leading George Russell, Mercedes F1 W14, Sir Lewis Hamilton, Mercedes F1 W14, and others
Photography: John Toscano / motorsport pictures
“Believe it or not, the financial part is actually not the biggest issue for me,” Lo said.
“It’s really bringing together all the expertise, the skills and the whole team into one unit.
“So now there are some opportunities that come up and we’re in very serious discussions with a couple of teams.”
“I’m just waiting here, looking at the reports, looking at the numbers, making sure everything looks good in the long run,” Lo added.
One team he spoke to had applied to compete, while another was “still doing their thing behind the scenes,” he said.
Luo suggested that F1 has been “too focused on the US” and should focus more on Asia.
“I think there are more Asian players, investors wanting to get into the sport — more than we think,” he said.
“I’ve been lucky enough to know many of them, and they’ve probed and expressed interest in getting involved. So a consortium, bringing resources together.”
He added that he wanted to get more Asians involved in the sport: “I would like to see more of Asia in F1, more Asian talent, not just the drivers but the people behind the scenes.”
Maximilian Günther kept his form from rounds 10 to 11 in Jakarta. There, too, the German-Austrian driver secured pole position.
Pierre Gasly repeated Ocon’s performance at the Principality, finishing fourth on a day when others failed to get it right, although he was later held back by Carlos Sainz ) and Max Verstappen were relegated six places.
Ocon, meanwhile, had a less-than-perfect lap in Q3 but was still seventh ahead of Sunday’s grid thanks to a team-mate’s penalty.
“It’s fantastic,” Ocon said when asked by Autosport about the car being fourth fastest again.
“If you had told me two games ago, I wouldn’t have believed it.
“Credit to Viry and Enstone for the work they’ve done, as those upgrades we’ve brought to them are clearly working.
“It’s a moment of confirmation after Monaco, the car is obviously more dynamic, so we’re happy.”
Ocon admitted he didn’t have the best overtake on the final lap, which contributed to his lack of Gasly.
“We optimized very well in all qualifying sessions, except for my performance in Q3,” he explained.
“Probably the tires weren’t as good at the start of the lap as all the other runs we maxed out, and in the rear I didn’t have that good grip.
Esteban Ocon, Alpine F1 Team
Photography: Erik Junius
“It was a bit like Fernando (Alonso), I lost the rear entry to Turn 10, I went a little wide and I lost a lot of lap time there. So there was definitely more possibility today, but it was A great place to start.
“I was really happy today because it was so close and it meant that if we had good lap times we could be there, which is fantastic.
“I hope F1 will stay like this for a long time, and P1 will do likewise.”
Before his penalty was confirmed, Gasly responded to Ocon’s statement about the state of the team.
“I’m very happy for the team because it’s the best qualifying of the season,” he said.
“It’s more important than the result itself. I’m happy with the evolution we’ve shown over the past few weekends.
“It’s early in the season and I’m getting to know the team every weekend. They’re getting to know myself, you know, it’s about putting things together. I really feel like every weekend, we’re taking a step forward. .
“It was a really strong lap. I always look further. When I see Carlos coming in second with less than 10th, it really shows that we are on the gear we have There is potential, and the upgrades are working.
“Overall, there are a lot of positives in this qualifying session.”
Nyck de Vries has performed much better in Monaco than at previous Grands Prix this season. The Dutch seem to have brought this form to the Spanish country. Around Barcelona, the AlphaTauri drivers had a great time. He started the race in 14th place. In a press conference with GPblog and others, De Vries looked to the future.
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