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A rumour is circling the Formula 1 paddock that there is a new team formed for the 2018 season. According to Auto Motor und Sport, the team has its base in England but the money and resources come from China. It may be false, but there are concrete indications that a new team is on the horizon.
Red Bull team principal Christian Horner stated: "A number of our employees were asked whether they would come to work for a new team. But, if they want to join as early as next year, they are actually too late."
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Not much is known about the new squad. The headquarters is located in Oxfordshire, surrounded by other teams like Mercedes, Renault, Force India, Haas F1, Williams and Red Bull Racing. Chinese investors take charge of the funding bill. It is assumed that former team members of Manor Racing would have already joined the project.
However, there has been no official application for a license. Ross Brawn, sporting director of F1 said: "In recent months, about ten parties asked us about the conditions for a license. They all wanted to know how we are planning to distribute income more fairly across all of the teams. We replied that we are bound by existing contracts until 2020."
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