A Monaco-based prospective Formula 1 team is “ready” to proceed with an application to enter the world championship. In 2019, an entity headed by the late Adrian Campos and his business partner Salvatore Gandolfo declared that they were working on a new F1 team project. But with new F1 CEO Stefano Domenicali now in charge, and despite Campos’ recent death, Gandolfo is suddenly much more optimistic. “We believe that the recent statements of the new F1 CEO Stefano Domenicali, suggesting that the $200m entry fee for new teams could be waived, represent a step forward in the right direction,” Gandolfo said on Monday.

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