Connect with us

2016 F1

Hellmund admits interest in buying Manor F1 team

Published

on

Hellmund admits interest in buying Manor F1 team

Hellmund admits interest in buying Manor F1 team

Tavo Hellmund has admitted his interest in buying the British F1 backmarker Manor.

Instrumental in taking F1 to Austin and reviving the Mexican grand prix, the 49-year-old was also linked recently to Manor, where current owner Stephen Fitzpatrick and bosses John Booth and Graeme Lowdon are reportedly at odds.

The Austin American Statesman newspaper said Hellmund spoke openly about his interest in Manor, even revealing that putting Nascar’s Dale Earnhardt jr at the wheel is an option.

Otherwise, Alexander Rossi looks a good bet, as he “has the resume”, Hellmund said.

“It would never be our goal to compete with the manufacturer teams,” he explained.

“We’re never going to spend $400 million a year like Mercedes, Red Bull, Ferrari and McLaren. But we think you can run it respectably and not be in the red. I think you can fight for fifth,” he added.

Hellmund admitted his interest may have been triggered by Manor’s new engine deal with world champions Mercedes.

“Manor Marussia cut a deal to be able to have Mercedes motors next year, which is a step forward as opposed to a year and a half old Ferrari spec engine,” he said.

Hellmund indicated that a 60-day period of due diligence is currently taking place.

“I think if we get to late January or February, it may be too late, and my partners and I would probably lose interest,” he said.

Another project Hellmund is eyeing is a potential second US grand prix, having been approached by a local company in California.

“They own some of the land but not all that would be required,” he said. “So that’s one of the hurdles. And then, can you get all the permits?

“We’ll see if they have the stomach for it — I guess that’s the right word. Some people are really enthusiastic and have a decent business plan in mind. Some of them are just dreamers and actually don’t understand the undertaking, and once that’s realised – what is required – it kind of fizzles out,” said Hellmund. (GMM)

Comments

Latest Results




Latest F1 News

2018 F14 days ago

McLaren confirms Sainz to replace Alonso in 2019 F1

McLaren Racing today confirms that Carlos Sainz will race for the team in Formula 1 from the 2019 FIA Formula...

2018 F16 days ago

Alonso will not race F1 in 2019

Marking 14th August as a day he would make an announcement on twitter, Fernando Alonso announced that he won’t be...

2018 F11 week ago

Ricciardo is not happy with Verstappen, It’s a risk – Massa

Felipe Massa says he can understand why Daniel Ricciardo decided to quit Red Bull. Ricciardo, one of F1’s top drivers,...

2018 F11 week ago

Stroll leads Force India rescue deal

Force India has been rescued by a consortium led by Lawrence Stroll, the billionaire father of Williams driver Lance Stroll....

2018 F12 weeks ago

Giovinazzi targeting 2019 Sauber race seat

Antonio Giovinazzi admits he has an eye on a Sauber seat for 2019. Ferrari’s other protege, Charles Leclerc, is linked...

2018 F12 weeks ago

Stroll should leave Williams now – Villeneuve

Jacques Villeneuve thinks Canadian countryman Lance Stroll should leave Williams immediately. Stroll’s billionaire father Lawrence is leading the consortium that...

2018 F12 weeks ago

Alonso could leave F1 for 2019 Indycar – McLaren boss

Zak Brown has admitted it is possible Fernando Alonso will leave McLaren and F1 for the Indycar series in 2019....

2018 F12 weeks ago

World to leave Michael Schumacher ‘in peace’ – Todt

Jean Todt has called for the world to leave F1 legend Michael Schumacher “in peace”. The condition of the seven...

2018 F12 weeks ago

Niki Lauda on road to recovery after lung transplant and coma

Niki Lauda looks to be on the road to recovery. The F1 world was in shock last week when it...

2018 F12 weeks ago

Villeneuve plays down ‘Hamilton-Jesus Christ’ comparison

Jacques Villeneuve has played down quotes that suggested he thinks Lewis Hamilton behaves like Jesus Christ. The quotes spread like...




Most Popular

ThisisF1.com is not affiliated with Formula 1, Formula One Management, Formula One Administration, Formula One Licensing BV, Formula One World Championship Ltd or any other organization or entity associated with the official Formula One governing organizations or their shareholders. Copyrighted material used under Fair Use/Fair Comment.

References
We could use the following leading F1 news sources for stories: SkyF1, BBC F1, Autosport, ESPN F1, FIA Media Center, MotorSport, JamesAllen and others leading authors blog.

All Rights Reserved © 2017 Prime Sport Media