Formula 1 has issued a statement playing down the prospects of a new team entering the sport in 2021 following an announcement from an interested Spanish party.
On Thursday a press release from Monaco Increase Management SARL (MIM) claimed it was working on an entry for the 2021 season that would be run by Spanish team Campos Racing — the Adrian Campos-founded outfit present in Formula 2 and Formula 3.
MIM stated it had lined up former Manor and Sauber driver Pascal Wehrlein and Spanish youngster Alex Palou to form its line-up, with former Super Aguri chief designer Peter McCool as technical director and Ben Wood — who worked with McCool at Super Aguri and then joined Brawn GP — as chief aerodynamicist.
Focusing on the new regulations and budget cap that will be introduced in 2021, MIM claims it has met with both Chase Carey and Ross Brawn on numerous occasions and that talks with potential partners in the sport are “at an advanced stage” but F1 subsequently released a statement refuting how serious any interest is.
“Following publicity in recent days from several entities that have indicated their ambition to participate in the FIA Formula 1 World Championship from 2021, while Formula 1 appreciates their interest, we can confirm that there are no serious discussions with any persons or companies about the admission of a new team,” the statement read.
MIM was founded by Campos Racing CEO and co-owner Salvatore Gandolfo in 2018, and specializes in “the direct marketing and management of professional drivers from Formula 1, Formula 2, Formula 3 and Formula E.” Gandolfo was quoted in the MIM announcement, saying the timing is right for smaller teams to enter the sport.
“Joining the Formula 1 World Championship in 2021 shall be a long-term project,” Gandolfo said. “We are aware of the big challenges ahead of us, but we have a team of experts working day and night and the financial solidity required by the FIA to make this project a success.
“With the new budget cap, the new distribution of incomes and the new technical and sporting regulations, there is a great opportunity for smaller teams to compete and ultimately to make the FIA Formula 1 World Championship more interesting and balanced again.”
F1 is keen to expand the number of teams on the grid in future but has been focused on the 2021 regulations — that have yet to be finalized and published — from both a technical and commercial standpoint.
Campos originally gained an entry into the 2010 F1 championship as Campos Meta but team principal Adrian Campos sold his stake in the team before the start of the season and it was renamed HRT.