During the Formula 1 summer break, the drivers market is not the only topic that is arousing interest in the paddock: always in the financial field, some teams participants in the world championship are in fact attracting the attention of the Hong Kong billionaire Calvin Lo, already present in the top flight due to his relationship with Williams. The Asian entrepreneur, as he himself confirmed in an interview with the press agency Reutersit would in fact intend to invest further in Formula 1, even without naming the teams with which he could close deals soon.
At present, the CEO of the insurance broker RE Lee International is in fact close to Williams due to the acquisition of the latter through Dorilton Capital, which took place in 2020. Now, after two years of experience in this field, Lo has so commented on his future intentions: “Many people, including myself – has explained – they still stand looking at other teams, to other opportunities. Today there are always good teams, but they can’t build the right car. There is a lot of liquidity out there in Asia right now, it’s unbelievable. It wouldn’t surprise me if the next news you hear is from a Asian consortium investing in other teams“.
Without mentioning the teams with which Lo – which operates internationally organizing life insurance policies for people with ultra-high net worth – could close deals, one of the major candidates would still be the Haas. The latter, who declined to comment on this hypothesis, is in fact recovering from the loss of the main sponsor Uralkali, owned by Dmitry Mazepin, sanctioned by the European Union in March 2022 due to the Russian invasion of Ukraine.
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