Promoter Tavo Hellmund and financier James Carney head a U.S.-based investment group "looking to buy a Formula 1 team," according to Steven Cole Smith of MOTORSPORT. A group of investors headquartered in the U.S. "are actively attempting to buy an existing team in a bid to also join the grid."
Hellmund "developed the Circuit of the Americas track" and cut the deal with F1 CEO Bernie Ecclestone to bring the series back to the country.
More recently, he "has spearheaded the return of F1 racing to Mexico City after a 23-year absence, when the Mexican Grand Prix returns to the calendar at the renovated Autodromo Hermanos Rodriguez" on Nov. 1.
Neither Hellmund nor Carney "could be reached for comment, but a representative of Carney’s confirmed there was interest, though declined to say which team the consortium was focused on."
Sources have "suggested it is the British-based Manor team, which is currently controlled by Irish businessman Stephen Fitzpatrick, founder of Ovo Energy."
The team missed the final three races of '14 "due to financial reasons and its future was in doubt for much of the winter."
But Fitzpatrick "rescued the team from bankruptcy, although it is believed that he is now looking for a financial boost from a new partner or to sell it completely" (MOTORSPORT, 7/14).
