P1racenews AI automatic summary:
Otmar Szafnauer has a group of “serious people” ready to finance a 12th team in Formula 1, as well as a car manufacturer “in place that wants to join” F1
Otmar Szafnauer has gathered a group of potential investors who are prepared to finance a 12th team in Formula 1 and has a car manufacturer interested in joining the grid.
Szafnauer shared these plans during a recent business forum in Miami, indicating that preparations have been ongoing for over a year with serious financiers backing the project.
While the exact investors and manufacturer remain undisclosed, Szafnauer is exploring the option of starting a new team or potentially acquiring an existing one if the opportunity arises.
The timeframe for this venture could realistically aim for a debut around 2028-2029, aligned with a probable change in engine regulations by 2030.
The costs involved in starting a new team versus purchasing an existing one could vary by around 10%-30%, factoring in the necessary investments and capital expenditure for either scenario.
Ultimately, Szafnauer’s ambition is to establish a competitive team in Formula 1, building upon his experience from Aston Martin and Alpine to navigate the complexities of entering the sport’s elite level.
