Hong Kong-based billionaire Calvin Lo, who already has financial links to Formula One team Williams, says he would like to see a greater Asian presence in F1 and is in talks with potential new teams.
The chief executive of insurance broker RE Lee International told Reuters he was considering backing a bid to enter in 2026 and money was not the major hurdle.
Lo said one potential team he was talking to had already applied and another was "still going on behind the scenes doing their thing. Some teams feel the entry fee should be significantly greater, reflecting the sport's rise in popularity and value with even once-fragile teams now operating as sustainable franchises.
"I think there are a lot more Asian players, investors, who want to get into this sport - more than we could ever imagine," he added, mentioning also car manufacturers in Japan, South Korea and China.
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