Following Panthera Team Asia, a second new outfit has announced ambitions to enter Formula 1.
Monaco Increase Management issued a press release on Thursday revealing they are working with Campos Racing, who compete in F3 and F2, with an eye on joining the grid as new regulations come into effect in 2021.
This is not the first time Campos has been linked with an F1 entry as team owner Adrian Campos played a key role in the creation of Hispania Racing, who joined in 2010.
While FIA president Jean Todt has been less enthusiastic about the possibility of a new team, it appears talks with Liberty Media have been more productive.
“From the first meeting with Chase Carey at the Spanish F1 Grand Prix in Barcelona on May 11th, and through the following meetings at F1 Group Headquarters in London with Ross Brawn on May 15th, and July 31st, it was clear that a Spanish team would fill a void left by the retirement of Fernando Alonso, and increase the interest of the Spanish fans and the TV and Media audience,” their statement read.
“Further, the support of the Spanish Federation, the availability of the Campos Racing Facility, as well as the know-how of the Campos Racing Team, make Spain the perfect home for a new Formula 1 Team.
“We are now at an advanced stage of negotiations with current Formula 1 Teams and engine manufacturers to ensure the best possible partnership for a competitive Spanish Formula 1 Team from 2021 and onwards.”
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Campos CEO Salvatore Gandolfo, who also founded Monaco Increase Management, the funders of this project, cited the new 2021 F1 regulations as a great opportunity to join.
“Joining the Formula 1 World Championship in 2021 shall be a long-term project,” he stated.
“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.”
Perhaps indicating how advanced their plans are, it is reported that former Sauber driver Pascal Wehrlein and young Spanish racer Alex Palou are being lined up as their first pairing.
Previously, Panthera had been told no new tenders would be put out until 2022, but it will be interesting to see if that changes in the coming months.