(Motorsport-Total.com) – Tavo Hellmund is working on a new Formula 1 project. The former racing driver is considered the mastermind behind the Grands Prix in Austin and Mexico City, but could now join an existing team as a partner with the SportsTek investment group from the USA. Hellmund talked to that ‘Autoweek’ at least referred to as a theoretical possibility.
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Tavo Hellmund could start a new Formula 1 project with SportsTek
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The new Concorde Agreement as well as the various new measures to cap costs in Formula 1 would make it interesting for a company to move in the Grand Prix scene, according to Hellmund. Specifically, he could, for example, imagine participating with SportsTek in the current Formula 1 teams AlphaTauri or Alfa Romeo.
The latter, a financial participation or even a takeover of professional sports teams, is the stated goal of SportsTek. However, the investment group does not want to limit itself to one industry, but also seeks partnerships on the media and commercial level, for example, and also outside of motorsport. And as a board member, Hellmund is one of the decision-makers.
Who is Tavo Hellmund?
At the beginning of his career in motorsport, Hellmund actively competed in races himself and won several series races up to 2005, including Formula 3. With his agency Full Throttle Productions, however, he also specialized in the marketing of racing events, initially on a local level.
In 2010, Hellmund was awarded the contract by Formula 1 to build the Circuit of The Americas in Austin as the new venue for the USA Grand Prix. Three years later, and thus after the Formula 1 premiere in Austin, Hellmund left this project, but had already started a new task with the revival of the Mexico Grand Prix in Mexico City. In 2015 Hellmund brought this race back to the Formula 1 calendar.
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To you and you with the Formula 1 boss: Tavo Hellmund and Bernie Ecclestone Zoom
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With the then Formula 1 boss Bernie Ecclestone, Hellmund had an important advocate in the paddock, but Hellmund did not disappoint: He was instrumental in ensuring that the US Grand Prix in Austin received an annual government grant in the millions, and he made the Mexico -Grand-Prix several times for the “Event of the Year” in Formula 1, namely five times in a row between 2015 and 2019.
What was the last American team in Formula 1?
Is Hellmund returning to Formula 1 with SportsTek as a partner or even owner of a team? That is still open. So far, in any case, there have only been eight US racing teams in Grand Prix racing, and some failures: For example, before the current Haas team, US F1 tried to enter Formula 1 in the 2010 season, but failed because of the financing and never accepted Race part.
In 2016, businessman Gene Haas dared to make the leap into Formula 1 with his racing team of the same name and established his team in midfield. In 2018, in the third year, Haas finished fifth in the constructors’ championship. In 2019 and 2020, however, the US team did not get beyond the penultimate overall position. In 2021 the racing team will compete again with Formula 2 champion Mick Schumacher, among others.
SportsTek on the US Stock Exchange
SportsTek Acquisition Corporation, as the company’s full name is called, is also making a fresh start – with its NASDAQ IPO in New York last week. The share has since recorded a slight minus of 0.5 percent.
In addition to Hellmund, there are numerous experienced sports officials on the board of the investment group, including former top managers of football teams and financial experts.
And Hellmund himself had already expressed interest in a Formula 1 team before working with SportsTek: When Manor ran into financial difficulties in 2016, Hellmund made a takeover offer with a consortium. The deal failed, however, because Manor lost the required tenth place in the constructors’ championship (and thus prize money in the millions) to Sauber shortly before the end of the season.
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