Hong Kong billionaire plans to start F1 team: ‘Sport should involve Asia more’

Calvin Lo plans to start a Formula 1 team. The Hong Kong billionaire already has financial ties to the Williams team but plans to start his own team with a focus on Asia, reports Reuters.

The premier class of motorsport is booming and this is not only noticeable in the number of countries that want to stage a race, but also in the number of investors who are considering setting up a team. Michael Andretti’s attempt has been going on for a while and Lo is also planning to start a team. Money won’t play a role in the billionaire’s case, but he wants to focus on Asia and he hopes not only to have Asian drivers behind the wheel, but the mechanics and team members will also have to come. from this part of the world.

“We are talking seriously with a few teams”

Speaking to the famed newspaper, Lo explains, “The financial part, believe it or not, is actually not the biggest issue for me. It’s actually bringing together all the expertise and the mechanics, the whole team in one unit. And so on at the moment there are a few opportunities that arise, that have happened, and we are talking seriously with a few teams.” Not only is a collaboration with an existing team happening, but creating your own team is also one of the possibilities. Lo is currently sponsoring the Williams team, but he is keeping the options open: “I could tell there is involvement through investment companies to co-invest in this team. That’s all I can say about it, we could opt for a new team from 2026.”

Formula 1 focuses too much on the United States

Since the acquisition of the sport by Liberty Media, the focus has been on the United States and Lo wants to focus on Asia. “I think there are a lot more Asian players and investors who want to get into the sport – more than we could ever imagine. I’m lucky to know a lot of them and they’ve expressed their interest in getting involved. explain. Lo’s goal is clear: “I would like to see Formula 1 involve more Asia, more Asian talent, not just the drivers but also behind the scenes.”