Potential New F1 Team Awaiting Green Light in December

Sometime before the 2021 F1 rules were officially confirmed, there were a couple of potential new entrants who were banking on the rules overhaul. Now, one of them will have to wait until December to see if the sport will consider allowing new entrants.

In fact, the owner of that particular team is Formula 2 boss Adrian Campos and business partner Salvatore Gandolfo. The two businessmen have already met with Formula One CEO Chase Carey and F1 managing director of motorsports, Ross Brawn.

Also joining the team are former Formula One engineers Peter McCool and Ben Wood, who are studying the new rules for 2021. With regard to potential driver lineups, one target is former Sauber and current Mahindra Formula E driver, Pascal Wehrlein.

Gandolfo told Blick newspaper: “On 4 December, they (F1) want to decide about new teams. So far, you could not submit an application and I only know the conditions by hearsay.”

“The same goes for the engine manufacturers. We have talked to Renault and Honda, but everyone was waiting for information. Only later can we decide whether an entry makes sense.”

With the budget cap and a better distribution of F1’s commercial income, the Campos outfit believes it would be able to operate for EUR 80 million a year.

“Then I would have to raise another 20 million for a 100 million budget,” said Gandolfo. “Only that is realistic and interesting as a business.

“With a budget of between 100 and 110 million, you can put a fast car together, as Haas has shown.”

The other team that was interested in a berth in Formula One was Panthera Team Asia. Last month, it transpired that Panthera established a temporary factory in the UK, where the majority of their rivals are based. However, co-founder Benjamin Durand said that their long-term plan is to establish an Asian base.