A1GP chief executive Tony Teixeira is looking at land in Portugal with a view to set up a base for his own Formula One team as well as his existing race series.
Autosport.com reports that the South African businessman is “edging towards starting a (F1) team from scratch after considering bids for Spyker, Scuderia Toro Rosso and Honda Racing in the past two years”.
He has acquired land near the Algarve Circuit in Portimao which he could use as a joint base for his motorsport operations, and could receive funding from the Portuguese government to develop it.
“I've bought 47,000 square metres at the Portimao circuit,” Teixeira told Autosport.com.
“I've bought that to put up a head office, an A1GP factory with 35 bays and an A2 factory, and restaurants, and the whole merchandising scene.”
On the possibility of basing a Formula One team there he said, “The team that I've been looking at would be based (in Portugal) and backed by the Portuguese government.
“If this is going to be such an important racing centre, they have to have an F1 team to compete with. Otherwise it means nothing without F1...The idea is that eventually it could house an A1/F1 office.”
