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F1 cools talk of new teams joining in 2021

A general view of the formation lap before the F1 Grand Prix of Italy (Photo by Charles Coates/Getty Images)

Formula One has moved to play down talk of new teams joining the motorsport series in 2021 after it emerged that Monaco-based MIM Group is backing plans for a new outfit that would be based in Spain.

F1 said there are currently “no serious discussions” taking place relating to new teams joining as the series prepares for a rules revolution in 2021.

Reports emerged this week that a team linked to Campos Racing, which competes in Formula Three and the GP2 series, is lining up an entrance into F1 in 2021 in anticipation of the new rules, which will include a budget cap.

Campos Racing is owned by Spaniard Adrián Campos, a former F1 driver. The Autosport website noted that Campos and co-owner Salvatore Gandolfo intend on gaining financial backing from MIM Group to support the proposal.

The report added that MIM has claimed meetings have taken place with F1 chief executive Chase Carey and managing director of motorsports Ross Brawn.

There has also been speculation of a Panthera Team Asia outfit joining F1 but any new entries would appear to be some way off as the series clarified its immediate plans.

A statement issued by F1 yesterday (Thursday) read: “Following publicity in recent days from several entities that have indicated their ambition to participate in the FIA Formula One World Championship from 2021, while Formula 1 appreciates their interest, we can confirm that there are no serious discussions with any persons or companies about the admission of a new team.”