Billionaire Lo looking at investment in new F1 team

Lo emerged last year as a potential investor in the sport, although initially he was coy on whether he wanted to join forces with an existing team or become involved in a new project.

He now seems to prefer the route of joining forces with one of the potential new teams looking to join the sport.

The deadline for formal applications for prospective teams is 30 April – the Sunday of the Azerbaijan GP – although the FIA says it “may move slightly for…