Hong Kong billionaire looking to back new F1 team for 2026
Lo, the CEO of insurance company RE Lee International, previously expressed his desire to get involv♏ed in F1. 𝕴;
He has ൩now indicated he would favour joining forces with one of the teams bidding to join the grid, rather than setting up his 𒅌own team.
"The financial part, believe it or not, to✱ ওme is actually not the biggest problem," Lo, whose personal net worth is estimated at $1.7bn by Forbes, told Reuters.
"I🎀t's actually gathering all the expertise ... the mechanics, the whole team together i🌟nto one unit.
"So right now there are a few opportunities coming up, h🀅ave come up, and we are talking quite seriously with a few teams.”
Loﷺ added: "I'm just here waiting, looking at the reports, looking at the numbers, making sure everything looks fine for the long term.”
Although Lo refused to disclose which teams he was in discussions with, he ruled🍌 out collaboration with the all-American Andretti/Cadillac and Hitech Grand Prix bids.
That suggests Lo is potentially looking at involvement with the Panthera Team Asia, who confirmed they are working on their applicatiꦺon for the FIA’s new Expression of Interest process in February.
Lo wants F🐓1 to explore the Asia market further and is keen to help bring more Asian people into the sport.
"I think there are a lot more Asian players, investors, who want to get into this sport - more than we could ever imagine,♎” he said.
"I'm fortunate enough to be able to know many of them and they’ve so🌠unded out and expressed the♔ir interest in getting involved. So a consortium, pool resources together.
He added: “I would like to see F1 to be mo🌺re involv🧸ing Asia, more Asian talent, not just the drivers but from behind the scenes.”
Lewis regularly attends Grands Prix for mahbx.com around the world. Often reporti𝓡ng on the action from the ground, Lewis tells 🌳the stories of the people who matter in the sport.
