Dillon Danis has now targeted Logan Paul's father amid their ongoing feud

While Formula 1 may be struggling to invigorate the spectacle of racing amid another anticipated year of Red Bull dominance, one area it is not struggling in is the off-track coffers. With more races than ever before, and the bumper profits that go with it, an inevitable side-effect is wandering eyes from afar. The sport’s governing body, the FIA, has thus opened an “expressions of interest” process in January for new potential teams to join the current 10-team grid, perhaps as soon as 2025. Enter Calvin Lo: a Hong Kong-based billionaire. CEO of R.E. Lee International, the world’s largest life insurance broker, the 45-year-old has been “hooked” on the sport since glimpsing Michael Schumacher’s Ferrari on TV in the early 2000s. A trip to Shanghai for the first Chinese Grand Prix in 2004 underlined that adoration. But now, spectating from the paddock isn’t enough. “I’m having serious discussions about getting involved right now,” he tells The Independent, from an office in Singapore, with all the paperwork lying in front of him. “There’s actually quite a few proposals in front of me right now to see how I can participate. “F1 needs more teams. There’s too many talents in motorsport to not have more teams. But when I go through it, it is highly aspirational and absolutely, very ambitious. Still, I’d loved to be involved financially.” But not at the cost of his reputation. Financial prudence and sustainability are at the forefront of his thinking, with the extended FIA deadline for applications closing on Sunday. The entrance fee for any new team is $200m, shared by all the current teams. Mercedes boss Toto Wolff has previously remarked that $1bn is realistically required to fight at the front, a figure Lo agrees is “fair” given the basic costs of recruitment and car development. “I won’t get myself into that vicious cycle where I can’t hit those financial markers,” he says, adamantly. “Putting money into the team is not the difficult part. It’s making sure it’s sustainable; otherwise it’s embarrassing for everyone. It’s very intricate, even with an established group of people, with all the sponsorship and the detail. “But there’s so much potential in this part of the world – it’d be so advantageous to the Asian community and to the F1 ecosystem.” Audi have already confirmed their entry in 2026, taking over from Alfa Romeo (Sauber), while American giant Ford has partnered with Red Bull for the world champions’ new powertrains division. While Lo was tight-lipped about naming potential partnerships, he did emphasise his eagerness to join forces with a new team via the current FIA process. Confirmed bids from Andretti Cadillac, as well as a mooted submission from junior formula outfit Hitech GP, were ruled out. An association with Panthera Team Asia, therefore, seems most probable at this point. Lo also has a financial link with Williams’ F1 team, who were bought by private investment firm Dorilton Capital nearly three years ago, but non-disclosure agreements preclude him from elaborating further. He was insistent, however, that any new team would not present a conflict of interest. Instead, his new venture, likely based out of Asia, would be his primary focus. The continent is a “huge untapped market” for the sport, in Lo’s view, amid the Americanisation of the sport witnessed at the weekend in Miami. An academy for drivers and academics alike is also a target. “To truly make F1 global, we cannot forget this part of the world,” he says. “There are races, but the penetration is not high and it’s wasted. “I would love to have an Asian team with a base in the Pearl River Delta [the wealthiest region in south China]. The initial few seasons would be tough but it’s important for the sport to have more exposure and commitment here. “It’d be great to have an academy here. Recruiting talents not just for F1, but aeronautics and legal avenues. For young people to be exposed to this kind of world, it could change someone’s life. “With [F1’s new regulations in] 2026 and the net-zero target of 2030, now is the perfect time to be involved behind the scenes.” Working in the shadows is just how Lo operates. Widely publicised as the “secretive” or “under-the-radar” billionaire – who has a net worth of $1.7bn (£1.3bn) according to Forbes – he covets privacy, despite a lucrative lifestyle which includes owning a suite of supercars and a collection of tip-top champagne, with a single batch costing $230m. “If I go into F1, you won’t see me,” he reveals. “It’s not my style. It’s also partly to do with my main business and working with clients. “In my view, the wealthier you are… you don’t go out and flaunt it. Well some do, most don’t!” McLaren CEO Zak Brown believes there will be at least four prospective teams interested in joining the sport, while F1’s regulations cater for only two more spots. Lo has been included in an initial application to play a financial role – even if he won’t be the face of said new team – and the FIA intends on making a decision about which teams will be granted a shot at the big time by the end of June. “By 2026, it will be a different world we live in and it’d be pretty amazing to be part of that change,” he concludes. “It’s now about looking at all the plans and making a decision truly from a financial point of view. “The skeleton is already there. It’s now just getting everyone to commit themselves.” Read More FIA formally opens applications for new teams to join F1 grid Andretti joins forces with General Motors to target Formula 1 entry FIA boss ‘surprised’ at ‘adverse reaction’ to Andretti’s F1 bid with Cadillac Aussie billionaire David Dicker enters race for new team to join F1 grid Ford to rejoin Formula 1 as engine partner for Red Bull from 2026

Ever wondered what it would be like to see John Wick rock out on stage? What about Neo, from The Matrix, playing a bass solo? Well, soon you might be able to – and people on social media are loving it. Hollywood star Keanu Reeves has confirmed that his band Dogstar is hitting the road, announcing a new tour to accompany the release of their first album in 23 years. After the band played a show at the Roxy in Los Angeles recently, they took to Instagram to announce the record, as well as an American and Japanese tour. Sign up to our free Indy100 weekly newsletter "WE ARE BACK!!! Thank you to everyone who came out to The Roxy last night," they captioned the Instagram post. "We are so excited to announce our new album Somewhere Between the Power Lines and Palm Trees out on October 6th on our label Dillon Street Records," the post said. "A very limited quantity of signed vinyl is available in the Official Shop - act quick! "Listen to the lead single "Everything Turns Around" & watch the music video now. Next month, we kick off our 25+ date headline tour in North America & Japan. Get tickets this Friday at 10am local time. VIP packages available." Reeves fans on social media were excited by the news. One person tweeted: “I need to be there!! I need to be there!! I need to be there!!!” Another person wrote: “My love, tell me what you can't do.” One other commenter said: “John Wick can shred too? Nice. Seriously though I did not know he was in a band but this totally tracks.” Last time Dogstar released an album was in 2000, with Happy Ending. Before that it was 1996’s Our Little Visionary. Set for release on October 6, Somewhere Between the Power Lines and Palm Trees will feature 12 tracks in total which includes the new single 'Everything Turns Around'. Have your say in our news democracy. Click the upvote icon at the top of the page to help raise this article through the indy100 rankings.

Formula 1 returns to one of its most famous races - the Monaco Grand Prix - after the unfortunate cancellation of the Emilia Romagna Grand Prix, with a crucial qualifying session to be held this afternoon. F1 was forced to cancel the Imola race weekend due to adverse weather and flooding in the region, with the event at this stage unlikely to be rescheduled amid the congested 2023 calendar. Yet teams and drivers will now turn their attention to the tight twists and turns of the world-renowned Circuit de Monaco for the next round of the season. PREVIEW: Monaco Grand Prix offers best chance yet of end to Red Bull supremacy Red Bull’s Sergio Perez won last year’s race in wet conditions, with Ferrari’s Carlos Sainz in second and Max Verstappen third. Hometown favourite Charles Leclerc has never been on the podium at his home race, while Mercedes will be eyeing improvements as they introduce upgrades to Lewis Hamilton’s and George Russell’s cars. Carlos Sainz was quickest in first practice on Friday with Max Verstappen top of the timesheets in FP2. Follow F1 qualifying live with The Independent - FP3 started at 11:30am before qualifying at 3pm (BST) Read More Monaco Grand Prix offers best chance yet of end to Red Bull supremacy Lewis Hamilton reveals impact of Mercedes updates in Monaco Lewis Hamilton has shut the door on Ferrari – will he come to regret it?

Polish parliament approved a program to increase home-ownership that will offer 2%-interest on mortgages for first-time buyers. Faced

Lordstown Motors said on Tuesday it had reached a $40-million settlement with Karma Automotive over a 2020 lawsuit

An animal advocacy group is calling for changes to the federal government's wild horse wrangling operations after a roundup in Nevada left multiple stallions, mares and foals injured or dead.

SAN FRANCISCO--(BUSINESS WIRE)--Jun 6, 2023--

The US still faces a risk of a government shutdown at the end of this week despite a

Luka Modric won the Ballon d’Or on this day in 2018, marking the first time since 2007 the award did not go to either Lionel Messi or Cristiano Ronaldo. The Real Madrid and Croatia midfielder broke the stranglehold placed on France Football’s prestigious award by Messi and Ronaldo in the previous decade at a ceremony in Paris. Argentina forward Messi and former Real team-mate Ronaldo and had each won the Ballon d’Or on five occasions since Brazilian Kaka did so in 2007. In his acceptance speech, Modric said: “It’s a unique feeling. I am happy, proud and honoured. I have sensational emotions at the moment that are really hard to describe in words. “First of all, I would like to thank my team-mates and coaches at Real Madrid and all the people who work for Real Madrid, all my coaches and team-mates with the national team, all those who voted for me and of course, my family, my wife and kids. “They are fulfilling me as a person and helping me in all aspects to be successful as a professional. “As a kid, we all have dreams. My dream was to play for a big club, to win important trophies. I dreamed about it, but the Ballon d’Or was more than a childhood dream for me and it’s a real honour and a privilege to hold this trophy.” Modric’s recognition was reward for a fine 12 months during which he helped his club lift the Champions League for the third successive season before playing a key role in Croatia’s surge to the 2018 World Cup final. He won the Golden Ball for his contribution in Russia and was named the Best FIFA Footballer of the Year, and was the first Croatian to claim the Ballon d’Or. Modric, now 38, is still playing for Real Madrid and helped his country to the World Cup semi-finals last year in Qatar. Read More Eddie Howe salutes performance as Newcastle end gruelling week with Man Utd win Ding Junhui beats Judd Trump to set up UK final showdown with Ronnie O’Sullivan Pep Guardiola knows Man City fans will be behind team if ‘bad moments’ arrive Win ‘blows belief into Everton’ after points deduction – Sean Dyche Dwight McNeil fires Everton to morale-boosting win at Nottingham Forest Paul Heckingbottom stands by his work as Sheffield United lose again

Stocks in Asia are poised to open higher after a rally in technology stocks pushed the S&P 500’s

New Germany coach Julian Nagelsmann named Mats Hummels and Thomas Mueller, World Cup winners in 2014, in his first squad for a tour of...