03 May 2023 , 17:41
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A motorsport team claiming to be 'youth culture-focused' is preparing to apply to join the Formula 1 grid from 2025.
The team, currently named LKY SUNZ, has gained investment from a US-based sports fund as well as private finance from individuals and corporate entities from across Asia. They are hoping to enter motorsport's pinnacle category under the FIA's Expression of Interest process.
That process was launched in January to prospective teams looking to gain a place on the F1 grid. Co-founder Benjamin Durand will have responsibility for running the team, which will have a base in South East Asia and have their cars built in Europe.
Durand was previously behind the Panthera Asia F1 Team bid, with the deadline for Expression of Interest proposals being pushed back to 15 May. Formal offers must be submitted by 30 June to the FIA, who are the governing body of F1.
The team's name refers to an abbreviation of 'Lucky' and the 'Sun', which is a prominent symbol in Asia. They are hoping to create close links with inner city communities, with Durand hoping to bring a fresh outlook to the sport.
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"We are excited to see our investors share our vision of fusing youth culture and racing to create a team that will disrupt Formula 1. The sport's popularity has grown exponentially and every current stakeholder in the sport has been responsible for that," he said.
HAVE YOUR SAY! Should the FIA allow new teams to enter F1? Comment below.
FIA president Mohamed ben Sulaymen is keen to add more teams to the grid (Getty Images)"But our guiding principle is to bring something different into the sport to appeal to new audiences. By being the only team operating outside the traditional F1 corridors and developing bespoke programmes to attract talent from underrepresented communities, we can bring a diversity of thought yet to be seen in Formula One.
"We of course aim to be competitive on the track but we also commit to entertaining fans off the track. To support our plans, we have already onboarded an impressive team of motorsport executives, music and entertainment industry experts and creatives who will help bring this vision to life."
LKY SUNZ are not the only team bidding for a place on the grid, with Andretti also interested having long held ambitions of joining F1. They are part of a joint venture with General Motors and Cadillac for a spot on the grid.
There has been some opposition from the current participants towards any new entrants. But McLaren CEO Zak Brown has backed the FIA's plan to expand the F1 grid to up to 12 teams.
"Our general view is that so long as a team is additive to the sport, whether it’s an 11th team and/or a 12th team, and can help make the pie bigger, drive greater awareness and we all get more sponsors, we get more media deals, and they pay what’s a fair franchise fee, which all sports have, then I see no reason for them not to join," he told Autosport.
“It’s ultimately up to the FIA and Formula 1 to determine whether they tick all those boxes of criteria. But assuming they do, then very welcome to race against them."
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