T O P
  • By - 1enox

FRA_2795

Would be the second f1 entry from Hong Kong, after Theodore Racing (1977-83)


[deleted]

His son is still involved in [racing](https://theodoreracing.com/)


ALOIsFasterThanYou

I love that the Theodore Racing name is being kept alive, but I still wonder what exactly it is that they do. They don't actually run their own racing team; instead, they pay to brand other teams, such as Prema and Craft Bamboo. I wonder what the Yips get out of this arrangement other than (very expensive) paddock passes.


[deleted]

I don’t know, but the Yip family is very big in the Macanese gambling scene (Teddy’s first wife is Stanley Ho’s sister). So probably a good tool to promote their Macanese business interest with the Macau Grand Prix.


Vettelari

If they build a soccer stadium will it be named the Macarena?


[deleted]

Haha. Good one. But in all seriousness, in Macau everything is for sale. So they will call it the Tencent Arena or something. They like Vitamin M aka money there


404merrinessnotfound

RIP Teddy Yip


tradhead

How to become a millionaire in one easy step


JSC843

Billionaires HATE this one simple trick!


notatree

How to make a million ​ start with 2 million ​ If andretti can't get a team, i hope this guy won't. But money talks


sentient_salami

But Andretti has money though. Makes it even more confusing to me.


notatree

Money, facilities and experience in other disciplines. But maybe because of all that his money is missing some 0's


Eggplantosaur

Maybe the money is too clean or the Andrettis are considered too pleb


Razvanlogigan

He has money, but not this level. Also judging by how he tried to aproach other teams to convince them to drop the entry fee, i'm not sure how much is he willing to spend


Cleets11

I mean if I had a chance at saving hundreds of millions I’d at least ask. Even Jeff bezos would want to save a few hundred million if he started a team.


XsStreamMonsterX

But once he's actually in Formula 1, he can make that money back thanks to the new Concorde Agreement which both guarantees payments just for being on the grid, but is structured in a way that raises team values. That is, if he can get in (the exclusivity being of the things raising team values).


pasm

Learning from Elon!


[deleted]

Is your username in regards to the Porsche active stability management technology?


dsio

PASM is the suspension stiffness changing and active engine mounts thing, PSM is the stability thing


[deleted]

Oooo right. Active *suspension* management. Thanks for the correction!


turkeybaconwitheggs

So no blue check for you?


TangoKlass

Don’t bring that shit here.


asoap

No. All sub reddits, all media, all news must be Elon 24/7!!!!! /s


renesys

Haha, sensitive about success via rich daddies?


LunaticBoogie

Keep this shit stirring out of our hobby. Is it difficult to understand?


renesys

So Americans pointing out Sergeant is a MAGA chud is going to upset you? Because that's going to happen. Edit due to can't reply because got blocked: he literally posted MAGA plus Biden memes on his Twitter, family has shady political connections.


SwagFartUnicorn

Damn he is? How MAGA we talking here?


LunaticBoogie

And it has absolutely nothing to do with the sport. Stop spoiling the fun for attention.


Neonbootygoon_onTTV

Why do you weirdos feel the need to talk politics, and make everything about politics at all times. Be normal, jesus christ man...


TangoKlass

I also believe it’s unnecessary here. And if he is, fuck that guy lol.


Daisaii

Zuckerberg has done a better job at that.


NothingIsTrue8

Two steps: Step 1: Become a Billionaire. Step 2: Form an F1 team.


Cueball-k

This comment is Vetted and approved by the fda


Hamilfton

He'll no longer have doors that go like this


Sad-Historian6177

What is the one easy step to become a millionaire


HotSexWithGrandad

More like he's going to invest into a team in some form if an opportunity arises. He's worth $1.7 billion and that might sound like a lot but buying/starting a team would eat up half of that so I can't see it happening and he wouldn't be allowed to do the latter anyway.


HkF1WEC

I think he’s already invested in Williams. If he still wants to start/buy a team, he just wants to throw money away. I think what he’ll likely do is try and join Andretti (if they’re allowed in) as a partner so he can say he owns it (kinda like Radcliffe and Mercedes)


KelvinHuerter

>I think he’s already invested in Williams. If he still wants to start/buy a team, he just wants to throw money away. Don’t kink shame


HkF1WEC

All I’m saying is there’s cheaper ways to be a paypig


Rgiles66

You are now a moderator on r/wallstreetbets


BackmarkerLife

> kinda like Radcliffe and Mercedes I would like Daniel Radcliffe shoved into a race car and told to win. No Questions, no answers. Toby Jones as Dobby is his crew chief.


HkF1WEC

Ngl I didn’t realise that it’s spelled with a T, not a D, but I’m going to leave it bc I’d also love to watch Harry Potter and the Order of the Grid


Cod_rules

Harry Potter and the Chamber of Wind


skinny7

Harry Potter and the Order of Team


BAKspin_91

I Radcliffe and Gint both get dropped into cars with sacks over their heads, the sacks are removed and Toto stands between the two cars. "Now, you race for me. Win!"


bigcig

in 2020 when buying Williams it was uncovered that Dorilton is in fact Calvin Lo's American based family fund. for what I can only assume are shady tax reasons, he's been incredibly good at keeping his name off most of it, but there's zero evidence of Dorilton being funded by anyone other than Calvin Lo. *there's been much reported on him being quoted as wanting to put together an Asian syndicate as a means of funding a new team, but not much has come out since the rumors last year.


DefinitelyNoWorking

Was that actually proven? I remember an article that discussed some suspiciously close links but I don't remember anything concrete actually being found.


HotSexWithGrandad

Joe Saward claimed Peter de Putron is the man behind Dorilton and seen him first hand on the grid and in the paddock with Williams at Monaco.


bigcig

very possible considering we have no concrete proof of anything. the secrecy side of things would def. go hand in hand with what little we really know about PdP. that being said, if he's not behind Dorilton, it wouldn't surprise me in the least if he has bought into the team considering it's Williams.


Hamilfton

I mean if I had more money than I knew how to spend, an F1 team honestly doesn't sound like such a bad pastime.


PathCalm4647

Marussia 2.0


lightestspiral

>He's worth $1.7 billion and that might sound like a lot but buying/starting a team would eat up half He's also not got $1.7 billion in his bank account, there's no way he could fund the creation and maintenance of an entire brand new F1


Eggplantosaur

He just has to snap his fingers and the bank will give it to him


Kako0404

Yah a low 10 figure billionaire is not rich enough to support and compete in this sport these days. Top teams will hit billion value fairly soon so u have to be in the high 10s or 11 figures to play.


TheAdventurousMan

Stroll is only worth 2.8 B.


FartingBob

Only worth 2.8B


TheAdventurousMan

Lawrence Stroll is worth 2.8 as of 2022. When he proposed to buy Force India, i remember looking and he was worth 2.2B. Not far off the 1.7B, but Stroll had a whole consortium of investors with him. Gene Haas has a personal net worth of 250 million. Obviously the team is sponsored by his company and not his own cash, but still doable, after rhw original 500 million buy in ofcourse.


HotSexWithGrandad

As you say, Stroll had a consortium of investors with him. Plus they bought Force India for $117 million, which is a long way away from current team prices of like $700 million for a backmarker. He also got Aston Martin so could get some brand value out of his team instead of it being a generic racing team like Racing Point. And also, Gene is worth way more than $250 million.


NotClayMerritt

There’s also limits to what Chinese businessmen can put into foreign investments. I guess theoretically he could start an F1 team with him as the face of everything but he would need additional investors


ALOIsFasterThanYou

As he's a Hong Kong citizen and not mainland Chinese, such restrictions do not apply to him.


Economy_Link4609

Sadly that distinction is not meaning so much these days - and I'd guess is on its way to going away. He probably wants to get it out before that changes.


CrabsolutelyBullshit

Ugh Reddit discussing geopolitics makes me want to bash my head against the wall


nar0

It's 1997 all over again, but this time for real.


redarrow992

Oh damn I never heard about this but why are there limits as to how much Chinese businessmen can put into foreign investments?


second-last-mohican

They want Chinese funds flowing back to their own economy.


UncountablyFinite

Because it’s harder for the CCP to control them if they can get their money out of China.


TheDeadlyPandaGamer

Most likely the CCP will own a big part of that team and will expect a big pile of cash from the team every year.


nar0

If the team has propaganda/distraction value I could see them just footing the bill without expecting much monetary return.


second-last-mohican

Yeah rich people dont spend their own cash, they just have access and clout to borrow huge sums or head up a new company that can borrow as much as is needed, the value of owning an F1 company is at a high right now, so that's not a problem. They can then make a profit once new investors get onboard, or build it up, similar to what Stroll has done, if he sold now he'd pocket a good profit.


MerfSauce

My personal theory is that he is acting as a front for the Chinese government who wants an f1 team for whatever reason. If this is the case he has alot of "investors" behind him.


Genocode

Didn't we hear something about Lawrence Stroll trying to sell his team? O.o


jorge-ben-jor

“How to lose money” speedrun


Kolec507

!RemindMe 10 years


Haze95

More teams the better


King_Olaf_thebastard

How do you make a small fortune in motor racing? ​ ​ Start with a large one!


UnstuckCanuck

First they'll do their due diligence, which involves counting all the money, AND NOTHING ELSE.


[deleted]

Interesting, but wasn’t Calvin Lo the secret backer behind Dorilton? Pretty sure he was.


aireads

Do you have any links for this? Curious to fins out more!


second-last-mohican

Speculation. Dorilton is US based and they make investments for him, no different than say Berkshire Hathaway invests for their clients.


daaniscool

When I'm in a losing money competition and my opponent is a billionaire owning a F1 team.


KarlAu3r

Yes please i muss the time with all the crazy backmarkers


ForeTheTime

If this happens before Andretti gets in that would be so disappointing


Representative_Belt4

Or Porsche lmao


mulvda

That’s my thought too. Hard to argue the bias then.


TAPJohnson

Imagine they let him form a team but not Andretti.


sono7975

**Toto Wolff and Christian Horner Enter The Chat**


JohnQPublic90

Would love to see a new team on the grid that pops up out of nowhere that has a lot of money and that’s it. What could go wrong?


wnderjif

4 years of vettel winning. that's what could go wrong.


StinkyBoi24

How do you become a millionaire in motorsport? Start as a billionaire


uknownick

You sir is wise


CrabsolutelyBullshit

Yes he's wise making the same joke as everyone else


StinkyBoi24

Fun guy, wonder why you’ve fallen out with friends :(


black_spring

How to turn a large fortune into a fortune.


Max-Ray

I'll be a bit pissed if this goes thru when Mario F'ing Andretti isn't allowed to get a team.


Revolutionary_Fig912

Oh another billionaire wants an f1 team


Suknator

Panthera Team Asia?


TGhost21

"However, he is now eager to expand his F1 portfolio by investing further – either by taking over a current outfit or **forming his own team**" MarioAndretti joins the chat...


Fit_Cash8904

It seems pretty clear that F1 isn’t interested in an 11th team.


Least-March7906

Ah, so we get to witness the making of a millionaire


[deleted]

Shoutout to panthera F1


TheSammich18

If Andretti can’t get in, neither can this guy


Poopy_sPaSmS

Goodluck. This sport is tighter than a virgin to get in.


orangeglitch

Watch this get more positive coverage than Andretti


chucara

Why? Does he have a son who wants to drive or does he just hate money?


bigcig

it's a status thing and if you read about Lo and think critically, you get the impression that when it comes to flashing (and hiding) money, horses aren't going to cut it.


pottertown

That’s nice. Mario fucking Andretti. Former F1 race winner. Ultra successful race team owner. Guy with $billion dollar backing. AMERICAN - YOU KNOE SAME AS THE PEOPLE WHO OWN F1….has been trying to get a team for years. Good luck rando.


Sensitive_Tough1478

He won a WDC in 78. He's literally one of the greatest race car drivers ever.


tikkabhuna

Gaa jau!


TRiG993

If I was a billionaire I definitely would. Wouldn't worry about it being an investment or a business or success. Just spend the money, enjoy being a part of the sport. Give a few rookies an entry way into the support. Celebrate like a new king when we get a podium


RacerXX7

Gentlemen, start your HK street races rumours!


XsStreamMonsterX

Lots of people making the old "to become a millionaire..." joke. But people are forgetting that the new Concorde Agreement is designed to allow F1 teams to actually make money. There's a reason why Gene Haas isn't selling or why McLaren turned down a $750 million dollar buyout offer from Audi. The new Concorde, as Domenicalli has stated, is designed to turn teams into "profit centers" in their own right. People like Zak Brown and Toto Wolff have predicted F1 teams to be billion-dollar enterprises in half a decades time. It's this that's attracting billionaires like Calvin Lo (who may already own a large chunk of Williams via Dorilton) to the sport.


wiggum55555

They should talk to the Andretti organisation about getting a team license first


mangosport

I think F1 it’s not interested in a new F1 team unless is a car manufacturer. But I won’t be surprised if this guy manages to do what Andretti failed to accomplish


Sensitive_Tough1478

Meanwhile, Andretti Autosport is waiting......


nastyzoot

Lol. Good luck. If they won't let an American racing legend do so in the fastest expanding market for sure some rich guy in the fastest contracting market/political minefield will have quite a tough time.


Kezolt

Cool do that for a couple years and then sell it to Andretti


BasicBelch

Get in line


ChiggaOG

"Hong Kong" billionaire...


FongBoy

Oh that's nice. I guess Chinese money is more money-y than Andretti money.


LoveEffective1349

nope. Anybody can put out a press release. no way in hell this becomes a real thing.


poopellar

Seriously these are the worst kind of users on social media. So trigger happy to find anything to make it about some conspiracy that it's the underhanded doings of [insert country/culture/people they don't like] and then make a lazy comment about it. It's just some article about some Billionaire's intentions, they haven't even formed anything, yet you're treating it as if the FIA have already given them approval just to spite Andretti. Amazing.


supernova6831

lmao exactly. Do people really think a Hong Kong billionaire of all people would be tripping over himself to exert CCP influence or whatever?


IMSOGIRL

dude is a fan of Timcast, so that explains his willingness to believe in bigoted conspiracy theories.


FongBoy

Yeah, just fucking watch what happens. You'll see.


HotSexWithGrandad

You say that like he's getting in. Andretti might if they get a manufacturer to support them. This has no chance.


OldWitchOfCuba

Accurate


Adrian-The-Great

More money-y


JKJay2005

Vijay Mallaya 2.0


SteamMonkeyKing

People can say what they want about Mallaya, but that Force India team punched well above its weight for way longer than it had any right to.


Dbwasson

Is it Jackie Chan? He has a WEC team.


BDMFKR

Andretti in a costume?


ElBonitiilloO

News like this are not of my interest, as long as FIA don't allow new entry teams.


TheHoloflux

Just no


Springer1a

He wont be putting all his own money into it he will have other wealthy silent investors plus lots of chinese sponsorship. This will most def be a china vanity project.


Michkov

As long as they don't buy an existing one.


BigdPSU

Got to team up with Jackie Chan


PH3N1X

Vanyang Mallaya


chili01

We need 22 car or 24 car grids again yo


SpicyFroggyOnYT

Lau Rinz Strowe


Hinyaldee

Sounds like someone needs to get rid of dirty money


CreepyVanMan_1

Watch, he'll get granted a team entry but a name recognized around the world (Andretti) won't.


Bikeboy76

I don't understand this or the Audi thing. If there aren't people being knocked out of the race in Quali, and there isn't massive reliability issues any more then the grid is fixed at the current size and people can only buy into existing teams. No one is going to invest multi millions not to race.


simi_lc8

They won't let Andretti make his own team; no shot that they let some billionaire in instead.


tumblinfumbler

They need to shut this down.


EasyMoneySniper_goat

good, we need more teams