1 Malaysia F1 team to run on RM308m yearly

KUALA LUMPUR, September 25 — 1Malaysia F1 Team will have a start-up capital of RM168 million while the team’s baseline annual budget is estimated at RM308 million.

In a statement, the team said Proton Holdings Bhd will licence its Lotus brand to the 1Malaysia F1 Team (1MF1T).

The partnership licence will include a variety of benefits for both Lotus and Proton involving technology transfer, marketing rights and employment opportunities, both within the national F1 Team, at the team’s technical centre in Sepang and its satellite base in Norfolk, United Kingdom, it said.

1MF1T is a privately-funded project and jointly owned by Tune Group, Naza Group and Litespeed UK. - + selanjutnya

1 Malaysia F1 team to run on RM308m yearly