A new Formula 1 team is looking to join the grid in time for the 2021 season, RaceFans can reveal.

Panthera Team Asia F1 is operating out of a temporary headquarters near the Silverstone circuit in Northamptonshire, a source familiar with the project told RaceFans.

Benjamin Durand, who was previously managing director of SMP Racing and BR Engineering during their spell in the World Endurance Championship, is one of the team’s co-founders.

Panthera has filled several senior positions including technical director and sporting director, though some of its staff are seeing out contracts with other teams. Its head of aerodynamics is Tim Milne, who has previous F1 experience from his time at Renault, Honda, Super Aguri, Toyota, Caterham and most recently Manor. The last F1 car he worked on was the unfinished Manor for the 2017 season, before the team collapsed.

The team faces an immediate obstacle in that the technical regulations for the 2021 season are unlikely to be confirmed until the end of October. It is making what progress it can with its preparations until then.

Panthera is believed to have struck preliminary deals with major component suppliers. RaceFans understands the team intends to follow the ‘Haas model’ of obtaining as many parts as it can through third party suppliers. However it remains to be seen how far this will be possible under the new 2021 rules which will redefine this contentious area of the regulations.

The new team has not yet formally approached the FIA to lodge an entry. The sport’s governing body has not issued an invitation for new teams to participate in the 2021. It is expected to open a tender once the 2021 regulations are published.

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2021 F1 season