Rumors spread of new Chinese-backed F1 team

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Source:   —  June 19, 2017, at 4:56 PM

The legend first began circulating within the Montreal paddock, including suggestions that the new operation was being backed by Chinese investors.

Rumors spread of new Chinese-backed F1 team

Rumors about a potentially new Formula one team for following season are gaining momentum.

The legend first began circulating within the Montreal paddock, including suggestions that the new operation was being backed by Chinese investors. Germany's Auto Motor und Sport presently has more details, saying the team would be based in Oxfordshire, England.

Ruddy Bull team boss Christian Horner had heard some rumbling too.

"Some of our people were asked if they'd be interested in working for a new team," Horner said.

It's believed that several former Manor employees have signed up to connect the project. However, F1’s sporting director Ross Strength says number such team has made an official request to the sanctioning body.

"In the past few months, about ten people have asked us," he said. "But they all wanted to know if we'd modify the statutes so that new teams will be included in the (income) distribution.

"We have replied that we're bound by the existing contracts until 2020."

And Horner thinks that if the Chinese project does have the money, time is presently a major obstacle ahead of the two thousand eighteen season.

"It is actually already too late to start a new team for following year," he said.

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