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Hong Kong billionaire eyes 11th F1 team

Dec.2 British reports suggest new plans are afoot for an eleventh Formula 1 team. With Michael Andretti's well-known US-based operation openly seeking an official entry, a new suitor has now emerged – Hong Kong life insurance billionaire Calvin Lo. The Mirror newspaper reports that he is in talks with 'a number of teams and drivers'. Lo reportedly said he is keen on Formula 1 because the sport has 'entered a new era with growing popularity and a new generation of fans'. He also told the Daily Star newspaper: 'I am not smart enough to run the team! Whatever involvement I would have, it would be financial. 'We've been looking at a current team and that's how the idea of starting a new...
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