Hong Kong billionaire Calvin Law is exploring the possibility of forming a new team to join Formula 1 in 2026.
Calvin Law, chief executive of Lee International, a life insurance broker and the world’s largest life insurance broker with $8 billion in assets under management, is no stranger to the F1 community.
The low-profile Hong Kong entrepreneur has often been named as one of the key financiers of Dorilton Capital’s acquisition of Williams Racing in the summer of 2020.
Calvin Law has neither denied nor confirmed the speculation. He has confirmed that he has “some involvement” with Williams through Dorilton Capital, but has always refused to give details about the level of his investment.
Calvin Law told Reuters last August that F1’s impressive growth over the past few years has attracted the attention of Asian investors, who are considering investment opportunities in the sport.
Now Calvin Lowe has revealed that he is considering a serious push to put a new F1 team on the grid by 2026, when F1 changes to new power unit regulations.
“I’m still exploring what I can do in F1,” Calvin Lowe told Daily Star Sport.
“I’m not smart enough to run a team! Any connection I have will be financial.”
“Over the last few years, we have been approached by many Formula 1 players, from teams to aspiring potential team owners and investors.
“We’ve been looking at existing teams, and that’s where the idea of starting a new one came from.”
“There are many opportunities now. I think we are entering a new era with a younger audience, a new fan base. Accessibility seems easier than it used to be.”
The tales and tribulations of Michael Andretti entering F1 are well documented.
Michael Andretti is still pushing his plans to form an F1 team at some point in the future, but the well-funded Andretti family’s efforts have met with resistance from key F1 members.
Perhaps that should draw Calvin Law’s attention to the big challenge ahead.
The Hong Kong businessman has yet to present a convincing case for F1 to be granted entry to elite clubs. But Calvin Law believes that expanding the grid will lead to more revenue for the existing teams.
“Whoever, in whatever situation, has to ensure that the financial pie gets bigger,” argues Calvin Law.
“I understand the reluctance of the current teams. What’s the point if everything comes out of the same pot?”
“But if we can somehow make that pie a bit bigger, it’s a win-win, and the whole grid benefits.”
“That’s where the ‘method’ comes in. How can my team tell our current team that our participation will, in any way, increase our mosquito viewership and fan base?”
“I think there’s an opportunity for people who aren’t in the motor racing world to come in and bring in new ideas and new perspectives. I think it’s exciting when someone comes in from the outside .”
“The financial part is a big commitment.
Category: F1 / F1 sponsor