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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

When Joe Biden was running for president three years ago, he flew on a white private jet with his campaign logo painted on the side

Good news, Tesla investors! In a tweet today, Elon Musk shared that Twitter – well,

It isn’t surprising that Colombian singers Karol G and Shakira recently joined their creative forces to create the banger “TQG.” Shakira famously ended her long-term relationship with Spanish athlete Gerard Piqué in June 2022 because he cheated on her with his current girlfriend Clara Chia Martí — an infidelity Shakira allegedly discovered because Martí had eaten Shakira’s jam after spending the night with Piqué in their house — and Karol G also ended her engagement with Anuel AA after photos of him at a strip club emerged online. Since her split, Shakira has released songs that directly and indirectly mention her separation — “Monotonía,” “Te Felicito,” and “Bzrp Music Sessions #53” — thus making pop music out of the betrayal she suffered, and Karol G followed suit with the veteran pop diva when she released “TQG.”

A California peace activist who has worked to remove land mines from war-torn regions and replace them with grape vines, fruit trees and vegetables has been named the 2023 World Food Prize laureate

It's been over 20 years since Toula Portokalos (Nia Vardalos) married Ian Miller (John Corbett)

Prada SpA sales jumped as the Italian fashion group benefited from shoppers splurging on Prada loafers and Miu

Republican-led state legislatures are increasingly road-testing restrictive abortion rules that fall just short of total bans, to see

Beyonce has kicked off her Renaissance World Tour in Stockholm, Sweden, in suitable style. This is the Texan singer’s first world tour in seven years, and she performed the 36-song set list in at least nine different outfits. Styled by regular collaborator Shiona Turini, a stylist and costume designer, the glittering array of custom looks called upon high fashion designers from all over the world. Beyonce, 41, kicked off the show in a heritage British brand Alexander McQueen, designed by Sarah Burton. The heavily beaded and crystal-bejewelled bodysuit featured ‘anatomical embroidery’, according to the brand, had geometric accents on the hips and was inspired by outfits from the label’s autumn/winter 2023 collection. Another look was a sparkly catsuit that had a slightly surreal edge with hands creeping over the design. This was a custom outfit by Loewe, which is helmed by Northern Irish fashion designer Jonathan Anderson. Loewe has been responsible for some major pop culture moments this year – most memorably dressing Rihanna in all red for the Super Bowl half-time show. Beyonce has been a longtime fan of French fashion house Mugler – famously wearing a structured gold bodysuit from the label in the 2008 music video for Sweet Dreams. She once again turned to the brand for her onstage fashion, wearing at least two Mugler looks in Stockholm. One outfit seemed to be inspired by the brand’s iconic spring/summer 1997 couture collection, which was based around insects. Beyonce’s outfit was black and yellow and had an insect-style headpiece, emulating a bee – perhaps a nod to the name of her fandom, the Beyhive. In theme with the disco fashion of the night – to match the 70s-inspired sound of the Renaissance album – Beyonce also wore a silver bodysuit from French brand Courreges. Other outfits included a black look heavily embroidered in pearls, designed by Balmain’s creative director Olivier Rousteing – with whom Beyonce created a collaboration fashion collection in March – a silver caped outfit by cult designer Coperni, and an iridescent look by London-based designer David Koma. The tour is set to include several UK dates, including London’s Tottenham Hotspur stadium, Cardiff’s Principality Stadium, Murrayfield in Edinburgh and Sunderland’s Stadium of Light. According to Forbes, the Renaissance tour could gross between up to 2.4 billion dollars (£1.9 billion) from tickets alone by the time it ends in September. Beyonce released her seventh studio album, Renaissance, last year, with the sound inspired by house music and dancefloor-focused Afrobeats. It was met with wide acclaim, and in February she became the most decorated Grammy artist of all time after collecting her 32nd trophy at the 65th annual ceremony. Read More Charity boss speaks out over ‘traumatic’ encounter with royal aide Ukraine war’s heaviest fight rages in east - follow live Pensioner, 85, shares the simple switch that’s helped him to do 650,000 press-ups 10 clever ways to style up your home office 5 sunglasses trends that will be everywhere this summer

Red Bull’s Helmut Marko says Mercedes made a last-ditch attempt to sign Adrian Newey as the Silver Arrows desperately look to haul in the deficit to Formula 1’s dominant team. Newey, the lead designer behind Red Bull’s rapid RB19 car this season, last week extended his deal with the Milton Keynes outfit. Yet F1 Insider report that the 64-year-old received a phone call from a Mercedes assistant, who formerly worked at Red Bull, about opening talks regarding a potential move to Toto Wolff’s team. But Newey, who has been at Red Bull since 2006, rejected the offer and Red Bull’s special advisor Marko seemed to confirm the report while speaking at the Miami Grand Prix. “Mr. Wolff may not seem to have the full confidence in his own people to fix the problems with their car,” said Marko. Mercedes recently announced a job swap in their department, with James Alisson returning to his role of technical director and Mike Elliott taking up the position of Chief Technical Officer. Wolff labelled the W14 a “nasty piece of work” over the weekend in Miami, where George Russell and Lewis Hamilton finished fourth and sixth respectively. Mercedes, the constructors’ champions in F1 from 2014-2021, are pinning their 2023 hopes on a highly-anticipated upgrade at the next race at Imola in the hope it reduces the gap to Red Bull out in front. Red Bull, meanwhile, are expanding to become an engine manufacturer for the new set of regulations in 2026, partnering with American automotive giant Ford to form Red Bull-Ford Powertrains. Newey, who is seen by many as the main reason behind Red Bull’s supreme RB19 this season given his experience in ground-effect aerodynamics, will play an important role as the division launches in Milton Keynes. “Adrian has been such a fundamental part since almost the beginning,” Red Bull team principal Christian Horner said. “He covers a lot of a lot of areas and, to have the depth of his experience and knowledge to draw upon, and the way he works with the young guys, it’s great. “He’s just as motivated as he always [has] been. Obviously, he has a great interest in what’s going on in Powertrains, and Red Bull Advanced Technology as well. So, he covers the three pillars of the campus in Milton Keynes.” Read More Red Bull chief ‘signs new contract’ in blow to rival F1 teams ‘Nasty piece of work’: Lewis Hamilton’s Mercedes slammed by Toto Wolff Where are Mercedes and Ferrari? Frankly, you don’t want to hear the answer Max Verstappen claims Miami boos are due to his success: ‘They don’t like who wins’ George Russell takes aim at ‘distracting’ razzmatazz before Miami Grand Prix

It’s that time of year again, when we settle down in front of the telly to watch the glorious pop parade that is the Eurovision Song Contest. Liverpool will be the setting for the grand final on May 13, taking on hosting duties as last year’s winner, Ukraine, isn’t able to. Of course, the music is what matters when it comes to picking a winner, but let’s be honest, who doesn’t love checking out the performers’ weird and wonderful fashion choices? These are just some of the most epic on-stage outfits in Eurovision history… 1. ABBA ABBA was victorious at the 1974 contest with Waterloo, taking to the stage in glitzy satin and suede ensembles. Agnetha Fältskog and Björn Ulvaeus completed their look with knee-high silver platform boots. 2. Co-Co Representing Britain in 1978, six-piece pop group Co-Co chose super shimmery clown-inspired, rainbow coloured costumes. 3. Buck’s Fizz Previously a member of Co-Co, Cheryl Baker returned to Eurovision in 1981 with Buck’s Fizz, taking home the winner’s trophy for Making Your Mind Up. The memorable performance saw singers Bobby G and Mike Nolan whipping off the knee-length skirts of Baker and Jay Aston to reveal mini skirts underneath. 4. Youddiph We’re not sure if she was a bit chilly on stage, but Russian contestant Youddiph pulled her flowing red dress over her head like a shawl while performing in the 1994 final in Dublin. 5. Dana International Opting for the bird of paradise look, 1998’s winner Dana International teamed a plain black gown with a fabulous feathered jacket. 6. Lordi Long-time fans of Eurovision have learned to expect the unexpected. Finnish heavy metal band won in 2006 with Hard Rock Hallelujah, while kitted out in what looked like Halloween monster costumes. 7. Scooch Pop quartet Scooch was ‘Flying The Flag’ for the UK in 2007 with these Britney-esque cabin crew costumes. Sadly, they crash landed at the final in Helsinki, coming joint 22nd out of 24 finalists. 8. Verka Serduchka Also in 2007, Ukrainian drag singer Verka Serduchka fared significantly better than Scooch, coming in second place with a bonkers but brilliant military-themed performance. The singer donned a silver snakeskin trench coat with a matching star-topped hat and glitterball tie. 9. Conchita Wurst Austrian winner Conchita Wurst continued Eurovision’s drag tradition in 2014, accessorising her glittering golden gown with glossy hair and a perfectly groomed beard. 10. Kate Miller-Heidke Australia has, somewhat confusingly been allowed to participate in Eurovision since 2015. The nation may not technically be part of Europe, but it sure knows what’s required of a contestant on the fashion front. In 2019, Kate Miller-Heidke was dolled up in a voluminous fairy princess dress and crown, the singer performing Zero Gravity while being flung from side to side on a long, bendy pole. 11. Sheldon Riley Also representing Australia, Sheldon Riley gave us one of 2022’s most dramatic outfits. Dressed in all white, Riley wore a gown with a long feathered train, paired with a tuxedo-style cropped jacket and a crystal mask covering his face. Read More Charity boss speaks out over ‘traumatic’ encounter with royal aide Ukraine war’s heaviest fight rages in east - follow live Can I go to work if my child has chickenpox? What is mitochondrial donation treatment and who can get it? Pensioner, 85, shares the simple switch that’s helped him to do 650,000 press-ups

Two parents convicted in the sprawling “Varsity Blues” college admissions scandal had their fraud verdicts overturned, in a