$1.7 Billion Net Worth Hong Kong-based Entrepreneur who idolised Michael Schumacher keen on entering F1 with new team

Hong Kong-based Calvin Lo is considering investing in a new F1 team. The  $1.7 Billion net-worth investor and Founder of R.E. Lee Capital feel it’s the right time to consider investing in the sport which has boomed in popularity in recent years.

Lo feels there are ‘untapped opportunities’ in F1. The 46-year-old is in talks with a ‘number of teams and drivers’ and aims to enter the F1 grid with a new team from the 2026 season.

The 2026 season will witness massive regulations change which has attracted the likes of Audi and Porsche to consider joining the sport. Audi has confirmed buying out Saubers’s team and will be entering as an engine manufacturer.

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Who is Calvin Lo?

Calvin Lo is a Hong Kong-based Investor and CEO of R.E. Lee Capital,  a company that manages more than $8 billion in assets. He is ranked the 43rd richest person in Hong Kong by Forbes.

Clavin was a Michael Schumacher during the 7-time World Champion’s time at Ferrari. Lo has continued to show interest in the sport. He has visited multiple Grand Prix in China, Montreal, and Malaysia with his latest appearance being in the 2022 Singapore GP.

It is widely believed that Lo invested in Dorilton Capital’s 2019 takeover of Willaims for $180 Million. Sources claimed that Lo was keen on investing in Williams and convinced Dorilton, who manages his finances, to pay for the move.

Lo neither confirmed nor denied any involvement in the acquisition. But the Hong Konger has commented on the untapped potential of the sport as a point of interest in any future involvement.

He says, “I love how Formula 1 is not just a one-man show. It’s a group of extremely talented people coming together for one goal. There are consistently good teams in F1 but they are not able to come up with the right car.”

Also Read: Ferrari to pay $1.5 million to Mattia Binotto for not joining rival team for next six months

From Michael Schumacher fan to potential F1 team owner

Calvin Lo will join the list of interested team owners in F1. The list also includes Andretti Autosports who have been in conversation to join the F1 grid.

But the price to enter F1 is set at $200 Million and the teams have to be vetted by other teams. Something which has bothered Andretti with Toto Wolff blocking the American team’s entry in the sport.

Lo had commented earlier in an interview saying, “In Asia right now, there is a lot of liquidity sitting around. I wouldn’t be surprised if the next news you hear is maybe some consortium in Asia investing into some other teams.”

F1’s popularity boom in Asia is set to grow. But the looming danger of Chinese GP’s omission from the 2023 calendar due to the Lockdown might be a hurdle.

Also Read: Porsche eyeing 50% stake in Williams F1 team after failed deal with Red Bull