“The announcement, of course, is great,” Calvin Lo smells a good opportunity for introducing his F1 team after FIA’s words
Formula 1 is no longer the secluded sport that is only accessible to the European elite. Its name has spread far and wide, and now the motorsports franchise enjoys a massive following with frenzied fans from all around the world. Previously, the pinnacle of motorsports had had some difficulty entering into the Asian and the American scene because most fans were from Europe, but that has changed completely as many of the Grands Prix are now planned in the two continents so that more and more people come to know about F1 and enjoy it.
One Asian billionaire, Calvin Lo, whose name has been thrown around a lot while discussing Formula 1 lately, is back at making the headlines. Fans have already known that Lo is one of the people interested in investing in Formula 1 in some way. Recently, the FIA President Mohammed bin Sulayem revealed his statement on the new teams that are looking to join F1, and Calvin Lo has found it to be very encouraging.
While Andretti is the forerunner when it comes to whose team might get the ticket into Formula 1 first, Calvin Lo is not far behind. With a net worth of over $1.5 billion, Hong Kong resident Lo claims that his ambition of introducing his own Asian team into F1 is serious, and because of bin Sulayem’s words on how Formula 1 would be opening its doors for new teams to participate, he believes he has found the best opportunity.
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Calvin Lo thinks there is always an opportunity for new Formula 1 teams
Calvin Lo is most famous for his company R E Lee International, and his aspirations right now are to increase his empire by entering into F1. But the existing teams had not been too welcoming of the idea of having even more competitors, so the door has almost been jammed until FIA President Mohammed bin Sulayem started talking about how they are preparing to welcome newcomers into the F1 circuit. Speaking on this, Calvin Lo said, “I personally think there’s always an opportunity for a new team to come in. The announcement, of course, is great.”
While processings are underway for new F1 teams to enter the bunch and contest for the top spot in the Standings, it is to be believed that fans will not find the new entrants until as late as 2026. Until then, the fight is on between the teams that are already in the mix, with Red Bull prevailing at the head right now and Mercedes and Ferrari aiming to usurp their Austrian rival from its place in the upcoming 2023 Championship campaign.
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Riddhi Mondal
(1821 Articles Published)