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​New Formula 1 contender LKYSUNZ secures $1 billion investment for 2026 entry

Posted : 07 October 2023

 

New motorsport team LKYSUNZ has received a substantial $1 billion investment from American firm Legends Advocates Sports Group, based in Florida. This significant funding injection has added a new dimension to the competition to join Formula 1.
 
LKYSUNZ aims to focus on nurturing talent from underrepresented communities within the sport. With this remarkable investment, they are eyeing a spot on the Formula 1 grid for the 2026 season, which could potentially cost up to 800 million euros to cover entry fees required by both the FIA and existing teams.
 
Despite current financial regulations indicating a $200 million anti-dilution payment, LKYSUNZ is prepared to pay a remarkable $600 million, showcasing their commitment to joining the Formula 1 ranks. Benjamin Durand, the chief executive of LKYSUNZ, expressed his delight with the additional funding and emphasized their dedication to promoting diversity within the sport.
 
He also stressed the importance of expanding Formula 1 into Asia and Africa, responding to the demand from motorsport fans worldwide. This substantial financial backing from their partners demonstrates their readiness to elevate the sport's popularity to new heights.
 
In summary, LKYSUNZ's acquisition of a $1 billion investment from Legends Advocates Sports Group is a game-changer in their bid to enter Formula 1. Their focus on nurturing talent from underrepresented communities aligns with their commitment to diversity.
 
Despite the financial challenges, they are determined to meet the necessary requirements to join the sport in 2026, demonstrating their dedication to Formula 1's long-term growth and global expansion.

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