|Salvatore Gandolfo – An Italian businessman born in Italy and raised in Switzerland, active mostly between Monaco, Switzerland and Italy.|
(GMM) A potential new Formula 1 team is still clinging to its project through the corona crisis.
Late last year, Formula 2 boss Adrian Campos and business partner Salvatore Gandolfo announced that they are working on a new F1 team project.
But last week, former Sauber driver Pascal Wehrlein, who was initially named as being part of the project, seemed to have lost interest in returning to F1 from Formula E.
"Coming to a race weekend knowing you're driving for 15th place is not my attitude," the German driver told ran.de.
However, Gandolfo reports via his spokesman Alberto Antonini that the F1 project is in fact "still alive".
"But because of the current situation, it is impossible to plan the next steps," he told Blick newspaper.
One of the next steps is an engine partner, but Gandolfo says the project also relies on a better distribution of official team income in Formula 1.
He said that if the team receives EUR 70-80 million from Liberty Media each year, "then I would have to find around 20 million more for a budget of 100 million".
"Only that is realistic and interesting as a business," said Gandolfo.