Campos Racing set to move into Formula 1 ahead of 2021 season
F1 News
A firm based in Monaco has made it clear they have serious intentions of joining Formula 1 in 2021, the year of the rules and regulation overhaul which potentially includes a budget cap. This is the second time today [Thursday, October 3], that a new team has raised their hand. Earlier, Russian Billionaire announced he is planning on starting a team following the increase in F1 popularity in Russia.
Monaco Increase Management has strong links to Campos Racing. They previously thought about an F1 entry in 2010, the last time a budget cap was planned. The team eventually entered as HRT for three seasons.
"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," the press statement said.
“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, already competing and winning in Formula 2 and Formula 3, make Spain the perfect home for a new Formula 1 Team.”
"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. Joining the Formula 1 World Championship in 2021 shall be a long-term project."
The statement went on to confirm the new 2021 rules and regulations are appealing to smaller teams and new teams. They believe "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.”
During the 2019 F2 world championship, Campos have won three races and sit 5th in the teams' championship.