Emerging motorsport team LKYSUNZ has announced a major breakthrough by securing a substantial investment of $1 billion (£818 million) from the American firm, Legends Advocates Sports Group, based in Florida.
This significant financial backing has the potential to revolutionise their path to Formula 1, positioning them as formidable contenders on the grid.
LKYSUNZ, with a mission to foster talent from “underrepresented communities,” has set its sights on joining the Formula 1 grid for the 2026 season.
The financial landscape of Formula 1 is a formidable challenge, with entry costs estimated to be as high as 800 million euros, covering expenses to both the Fédération Internationale de l’Automobile (FIA) and existing teams before earning a coveted spot on the starting grid.
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Benjamin Durand, Chief Executive of LKYSUNZ, expressed the team’s enthusiasm for this groundbreaking development, stating, “With the news of our additional funding, we are delighted to confirm that LKYSUNZ is prepared to meet the teams’ request and pay a $600 million anti-dilution payment, despite this current cycle of the financial regulations stating $200 million.”
Durand’s words reflect a strong commitment to fulfilling the financial obligations required to enter Formula 1 and compete at the highest level.
Durand further emphasised the team’s determination to create a more diverse and competitive Formula 1 landscape.
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He highlighted the significance of fostering diversity within the sport’s paddock, recognising it as pivotal to the long-term growth and prosperity of Formula 1.
LKYSUNZ’s ambition extends beyond the financial realm; they aspire to expand Formula 1’s reach into Asia and Africa, tapping into the immense potential and demand from motorsport enthusiasts worldwide.
“The significant financial commitment from our partners is an endorsement, and we are confident that our entry can propel the interest in the sport to reach new heights,” Durand added, expressing his optimism about the positive impact LKYSUNZ’s entry into Formula 1 could have on the global motorsport landscape.