Live Breaking News & Updates on Sportstek acquisition corporation

Hellmund keen to start F1 team with Andretti Autosport

21 February, 2021
Tavo Hellmund is in the news again, this time keen to fire-up a United States-based Formula 1 project which might lead to a joint effort with Andretti Autosport.
Well connected, Hellmund was part of the Circuit of America’s and Mexico City’s Formula 1 projects. Although he reportedly fell out with the United States Grand Prix organisers.
He was also part of a consortium that made a bid and came close to buying the Manor F1 Team. Now he has shares in a new USA based investment company, which went public last week on NASDAQ with sports franchise acquisitions on their mandate.

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American firm weighing up Formula 1 entry

American firm weighing up Formula 1 entry
PlanetF1
21/02/2021
© Getty Images
Formula 1
SportsTek Acquisition Corporation are looking at a possible route into Formula 1, perhaps alongside Michael Andretti.
Autoweek report the co-chairman of the SportsTek Acquisition Corporation, Tavo Hellmund, has told them Formula 1 is one of the possible projects the company are considering.
The newly-founded organisation will specialise in acquiring or partnering existing sports franchises.
“The company was formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses,” read a press release from the NASDAQ stock exchange.
“Although the company’s efforts to identify a prospective business combination opportunity will not be limited to a particular industry, it intends to focus on a target within the sports and related sectors including sports franchises, media, data analytics, and technology and services businesses serving those end markets, among others.”

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Formule 1 | Le 'héros de la F1 nord-américaine' s'apprête-t-il à racheter une équipe ?

Formule 1 | Le 'héros de la F1 nord-américaine' s'apprête-t-il à racheter une équipe ?
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American Investment Group Has Possible F1 Team Ownership on Radar

American Investment Group Has Possible F1 Team Ownership on Radar
autoweek.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from autoweek.com Daily Mail and Mail on Sunday newspapers.

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US-Investment-Gruppe erwägt Formel-1-Einstieg als Teampartner

US-Investment-Gruppe erwägt Formel-1-Einstieg als Teampartner
formel1.de - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from formel1.de Daily Mail and Mail on Sunday newspapers.

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