If Anyone Can Afford $1 Billion, the Arabs Can
Via Bloomberg:
Dubai may spend as much as $1 billion during the next seven years setting up the first independent Formula One motor-racing team since 1997, for which McLaren driver David Coulthard may race, Arabian Business reported.The team, to be called Team Dubai F1, will start building a technical center and a wind tunnel for aerodynamic testing in the U.K. next year at a cost of more than $100 million, the Dubai, United Arab Emirates monthly magazine reported in its December issue.
The team, which will be based in Dubai, will have a budget of about $150 million a year and run its first race in the 2006 world championship, the magazine said, without saying where it got its information. Coulthard may be the lead driver for the team, which may use Mercedes-Benz AG engines, the magazine said.
There are a lot of “mays” in this story. Coulthard “may” drive, Mercedes “may” supply engines, and the UAE magazine provided no source for it’s information.
Let’s just call this developing….. and wait and see.
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