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Hellmund & Carney head US-based group looking to buy F1 team

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Two U.S. teams on the F1 grid in 2016? It could happen

Promoter Tavo Hellmund and financier James Carney head US-based investment group looking to buy a Formula 1 team.

There’s a good chance that North America will have two, not one, Formula 1 teams on the grid in 2016, Motorsport.com can reveal.
Gene Haas's plans for a Ferrari-affiliated team entry next year are well advanced, but a group of investors headquartered in the United States are actively attempting to buy an existing team in a bid to also join the grid.
The group is headed by New York financier James Carney, and Austin businessman Tavo Hellmund, who developed the Circuit of the Americas track and cut the deal with Bernie Ecclestone to bring F1 back to the country.
More recently, Hellmund 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 November 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.


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