A new team rings at the gates of F1? Discussions are underway for this project called “Monaco F1 Racing Team” led by Monaco Increase Management and Salvatore Gandolfo.
The rumoured Monaco F1 Racing project has released a statement to confirm it’s still seeking entry to the championship. The joint venture of Campos Racing and Monaco-based Monaco Increase Management is continuing, according to a new statement from the company CEO.
Back in 2019, news emerged from Campos & Monaco Increase Management that they were seeking a Formula 1 entry for 2021 – the year the new regulations were originally scheduled to kick in.
With Campos racing in Formula 2 and Formula 3, financial backing was to come from Monaco Increase Management. Team founder Adrian Campos recently passed away but it appears his passing hasn’t deterred team partner Salvatore Gandolfo.
Gandolfo is a co-founder of the Campos team and said in 2019: “Joining the Formula 1 World Championship in 2021 shall be a long-term project. 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 these regulations pushed out to 2022, Gandolfo has issued a statement confirming that they still have interest in joining the grid: “The current Monaco F1 Racing Team Project was the first to actively discuss the possibility of an entry with the F1 Governance, as early as 2019, and to set up a structure accordingly, realizing the potential of the new Technical Regulation that was initially supposed to come into force in 2021 (and was subsequently delayed because of the pandemics).”
“We believe that the recent statements of the new F1 CEO Stefano Domenicali, which suggest that the 200M entry fee for new teams could be waived, represent a step forward in the right direction. We appreciate the open attitude of both Stefano and the FIA and are ready to take the necessary steps in order to have our application finalized.”
Monaco Increase Management are currently the management behind Formula E racer and former F1 driver Pascal Wehrlein, as well as Alex Palou. Palou is a 23 year old Spanish racer, currently driving in IndyCar with Dale Coyne Racing.
There are significant links between MIM and Campos Racing. Salvatore Gandolfo, a co-owner of Campos Racing, is the CEO and founder of MIM, while Daniele Audetto is Senior Advisor at the company. Audetto is a former Managing Director at Super Aguri, as well as a former manager at Ferrari during the late 1970s. Audetto has also worked with FIAT and the Arrows F1 Team and, most recently, was a managing director at the now defunct HRT Hispania Racing Team in Formula 1.
‘MONACO F1 RACING TEAM’ WANTS TO ENTER THE FORMULA 1 WORLD CHAMPIONSHIP ‘MONACO F1 RACING TEAM’ WANTS TO ENTER THE FORMULA 1 WORLD CHAMPIONSHIP
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