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New racing family arriving? ‘China F1 Racing Team Limited’

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Jean Todt has not denied that a new team might be lining up to enter formula one.

There have been rumours a new project backed by Chinese investors has been shopping around at existing teams for personnel.

And now, Brazil’s Globo reports that a company called China F1 Racing Team has been registered at Companies House in Britain.

Indeed, filed documentation shows that the London based company, with a single director who has been in business for many years, was previously called Bronze Fortune.

FIA president Todt is quoted by France’s L’Equipe: “We currently have ten teams but the idea is to have twelve.

“There is an opportunity for one or two teams to join F1. There are a lot of rumours in this area, but there is a clear interest from several sides,” he added.

However, Todt said there would be no time for a new outfit to be up and running in time for 2018.

“When we see that the right time has come, we will announce a process for potential new teams,” he said.

Prost welcomes new F1 team

F1 legend Alain Prost has welcomed rumours suggesting an eleventh team could be on the grid in 2018.

The quadruple world champion, now an advisor for the Renault works team, told Germany’s Auto Bild the conditions to enter F1 are now better than when his own team went bust in 2001.

Prost’s comments follow reports a group with Chinese backing has enquired about signing staff from existing F1 teams for a new project.

“We used to be racing teams, but now everything is much more like business,” the Frenchman said.

“That is one reason we lose fans — they don’t quite understand how a drinks maker like Red Bull can defeat automobile companies.

“But I can say that whoever wants to start a private team today has it easier than in my time. That was probably the worst time ever,” Prost said.

“We never received more than $10 million (from F1), but we paid $28 million in the first year for engines, 30 in the second — how is that supposed to work?

“Today, every team gets at least $40 million in prize money,” he said.

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