Lo happy with FIA announcement: 'I think there's always an opportunity'

Formula 1's popularity is at an all-time high, and so is the interest of potential new teams. Michael Andretti currently seems closest to entering, but recently a new candidate surfaced: Asian billionaire Calvin Lo. In an exclusive interview with GPblog, which will release in full on Saturday, Lo spoke about his future plans and makes it clear that his F1 ambitions are serious.

Lo is currently looking at his options in F1. Does he want to buy an existing team or would he rather start his own? The latter seems to be getting easier in the future given recent statements by FIA president Mohammed Ben Sulayem about a new procedure for potential new teams, although the details on that are not yet clear.

Lo addresses FIA announcement

While he realises that starting his own F1 team is a very ambitious goal, Lo certainly does not see it as impossible. "I personally think there's always an opportunity for a new team to come in," the Hong Kong-based businessman said. As long as you make a good enough case, he believes the opportunity is there.

The prerequisite is that it makes sense for both the existing teams and the potential new team, which Lo realises only too well. "The announcement, of course, is great," he added, although he stressed again that it will take a good presentation of a case to convince current participants.

In addition, it is a matter of waiting to see how much easier the FIA is going to make it for new teams to participate. It remains a huge task that takes an awful lot of time and money, and results are required to stay afloat financially as an F1 team. Lo continues to explore his options.