Short application period surprises Calvin Lo: 'Work is being done now'

Short application period surprises Calvin Lo: 'Work is being done now'

7 February - 16:00 Last update: 16:23


The application process announced by the FIA last week for possible new Formula 1 teams did not only surprise the fans. Even Calvin Lo, the wealthy Hong Kong businessman exploring the possibilities of setting up a new, Asian F1 team, was surprised by the announcement of the application round.

The International Motorsport Federation announced last week that teams wishing to join Formula 1 in 2025, 2026 or 2027 have until 17 February to officially apply. A maximum of two teams will have the chance to join the grid in the coming years. As is well known, Andretti-Cadillac are the leading and most outspoken candidate to make the move to Formula 1.

Procedure faster than expected

Passionate racing enthusiast Lo is also emphatically in the race to enter Formula 1. "There have been a few developments, especially with the FIA setting a deadline in mid-February for applications." the spokesperson for Lo exclusively told GPblog. "While it (the application procedure) is a little sooner than earlier expected, work is being done right now (by his people)."

The spokesperson added: "However, it should be noted that regardless of a deadline or not, Mr. Lo’s involvement will always be behind the scene and purely on a financial basis.  There are a few options in how Mr Lo can participate further in F1: invest into a current team or start a new team. All I can say is that discussions are actively happening on these possibilities."

Dorilton's client?

It is unknown which existing team on the F1 grid Lo would consider investing in. However, Williams is the obvious choice, as the billionaire already has ties with the team as top executive of insurance company RE Lee International. Investment firm Dorilton Capital owns Williams and Lo, in turn, is reportedly a client of Dorilton.

Video player

More videos