Lack of clarity over Calvin Lo registration on deadline day
Exclusive
- GPblog.com
For potential new teams in Formula 1, Friday was an important day. They had to officially declare their interest in a place on the grid from 2025, 2026 or 2027 to the FIA by 5pm CET. No doubt the Andretti Cadillac team did so. It is unclear whether Hong Kong-based Calvin Lo also sent in the required paperwork and paid the required $20,000.
Registration for new teams is done in two phases. In the first phase - the application process of which closed at 17:00 CET thus - among other things, the FIA had to be told who exactly are the people behind the project, both team management and investors. A CV of all the executives also had to be sent along. Twenty thousand dollars then had to be transferred, covering the FIA's initial costs.
First phase behind us
After the first phase, the FIA will let interested parties know the exact conditions for signing up. Teams then have until 30 April to submit the full plan, plus payment of three hundred thousand dollars to the FIA. On 30 June, the FIA will announce whether and, if so, which teams will be allowed to join Formula 1.
It is common knowledge that Michael Andretti wants to enter F1 with his team Andretti Cadillac. Interest was also clear from Calvin Lo. GPblog asked Lo this Friday whether the formal application was out the door and this was followed by a reply that could be interpreted in several ways: yes, he has put the application out the door or he has found other parties willing to do so.
"Mr Lo has held serious discussions with potential partners interested in being part of the F1 grid," his spokesperson revealed. "In talks and negotiations, Mr Lo and his team have explored possible financial links that could drive growth and success for all parties involved and raise the profile of F1 as a whole. While it is too early to disclose specific details about the teams or partners in question, Mr Lo remains very optimistic about the opportunities ahead and is fully committed to growth and innovation in F1."
Besides Andretti and Lo Possibly Panthera Team Asia F1 is also making an attempt to join Formula 1. Team boss and co-founder Benjamin Durand stated that Panthera's focus is on the Asian market, which has certainly been growing since Guanyu Zhou's debut.
Current F1 teams are not eager
Existing teams are currently the biggest obstacle to the possible entry of new teams, but Stefano Domenicali is not exactly blazing hot either. Teams fear they will get less prize money if the money has to be split between more parties. Everything will be different if Liberty Media increases the prize pool, something Red Bull Racing team boss Christian Horner pointed out.
The bulk of the teams do not like expansion: Mercedes team boss Toto Wolff and brand-new Ferrari boss Fred Vasseur, among others, expressed doubts about the possible arrival of an 11th or even 12th team. Only Alpine and McLaren CEO Zak Brown are openly in favour of newcomers. However, according to Horner, this has everything to do with the cooperation these parties have with Andretti. Alpine, for example, will supply engines to Andretti. These power units will then be named 'Cadillac'.
FIA president Mohammed Ben Sulayem clearly takes a different view: he actually encourages the arrival of possible new teams.