Calvin Lo: Billionaire businessman exploring plan to set up F1 team for 2026

Lo said his “ideal” would be to start a new team but he was also considering buying into an existing one. Lo, whose personal net worth is estimated at $1.7bn by Forbes, said he was an F1 fan, but that his ambitions in the sport are “purely financial” and he would not be involved in the day-to-day running of any team he set up. Speaking on a video call from his base in Hong Kong, he said funding the set-up of a team was “not the difficult part” and the key to any decision would be the project’s financial viability. “In this world, finding liquidity for one or two years, relatively it’s easy. Lo said the idea of setting up a team of his own was “not something I actively went out and hunted for” and it “just came about” as a result of being approached by teams wanting to “explore whether I was interested in injecting funds”. Lo said the growth of F1 in recent years had convinced him this was the right time to launch his project.

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