Lkysunz, a company based in Asia, has assured that it has sufficient financing to participate in Formula 1. It could invest around 1 billion dollars in its project to create a new team to compete in the 2026 start to stand.
We talked about this project in May, but now the people involved have reminded us of themselves again. In particular, it was announced that the American fund Legends Advocates Sports Group is prepared to provide Lkysunz with additional investments.
Currently, one of the obstacles that any candidate must overcome to participate in Formula 1 is a special entry fee of 200 million dollars, intended to compensate for the financial losses of traditional championship teams, because if a new one appears, the prize money will have to be supplemented. be divided into more parts.
Lkysunz management says it is willing to contribute three times as much.
“We hear the comments from the teams and fully recognize the efforts, dedication and financial investments they have made together with Formula 1 and the FIA to take the championship to its current level,” said Benjamin Durend, CEO of Lkysunz , in a statement. – Having received additional funding, we are pleased to confirm that Lkysunz is willing to meet the teams’ demands and pay $600 million in compensation contributions, although financial regulations currently set this at $200 million.
We look forward to continuing our positive discussions with the FIA and are pleased that our partners are providing us with financial support… We understand that expanding the geography of Formula 1 to Asia and Africa is 100% correct, economically feasible and, most importantly, it needed fans all over the world.
Significant financial investments from our partners are confirmation of our intentions, and we are confident that our project will help increase interest in the championship.”
Little is known about Lkysunz himself, although Durand was previously involved in a project called Panthera, and it appears that his new venture is on a larger scale. But since Lkysunz has no history of participating in any other racing series, the attitude towards this project in the FIA and Formula 1 will definitely be wary – in other words, it does not inspire confidence.
Moreover, against the background of such serious competitors as Andretti Global, which is supported by Cadillac, the premium division of the American concern General Motors, and the British Hitech team, because even their applications so far are only at the consideration stage.
Source: F1 News
I am Christopher Clyde, an experienced journalist and content writer with a passion for sports. I have been writing about Formula 1 news for the past five years and am currently employed as an author at athletistic.com, one of the top sports websites in the US.
