Hong Kong billionaire eyes 11th F1 team

British reports suggest new plans are afoot for an eleventh Formula 1 team. The Mirror newspaper reports that he is in talks with “a number of teams and drivers”. He also told the Daily Star newspaper: “I am not smart enough to run the team! “We’ve been looking at a current team and that’s how the idea of starting a new team came about,” Lo added. However, he acknowledged that the existing teams are reluctant to support the idea of an 11th entry because it means diluting their official F1 income. He admitted that a new team wouldn’t be possible until 2026, but already has some ties with Williams.

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