1MALAYSIA F1 TEAM MORE INFO
It seems we were wrong about the government wasting our money on an F1 team in next years' championship. Or are we? A news report, and this was published in Singapore not in Malaysia (I can't seem to find anything reported in the Malaysian press except by Paul Tan), says that the Malaysian government will not be funding the team. The arrangement is as follows: The Malaysian Government has no equity directly or indirectly in the team, and the team will be funded by a group of companies including Litespeed ( which submitted an application to join Formula 1 next year under the name Team Lotus ), Naza, and the Tune Group, run by Tony Fernandes, current team principal. Petronas, a very familiar name in Formula 1 (BMW Sauber’s sponsor), is expected to join the team via its Universiti Teknologi PETRONAS (a Petronas university in Malaysia), which will collaborate with the team together with UTM (University Teknologi Malaysia – a state owned university) to help develop future Malaysian...