The Portuguese official, formerly linked with the takeover of several Formula 1 outfits through the last few years – Spyker F1, Toro Rosso and even Honda F1 – admitted the main reason why he wants an F1 team is to secure a smooth transition of all A1 GP winners into the Great Circle. The A1 series would therefore before Formula 1's second feeder series, alongside the GP2 Series.
“The only reason we want an F1 team is for the winners of A1 to go to F1. But, because of the times, I cannot commit myself to this year's budget,” revealed Teixeira for the aforementioned source.
The future team would be based near the circuit of Algarve, which was recently given the testing-venue status by the FIA (in terms of F1 testing), while also having secured the hosting of an A1GP round later this year (April). Teixeira has recently acquired a land near Portimao and plans to invest in setting up his A1 GP and, possibly, F1 operations.
“I've bought 47,000 square metres at the Portimao circuit. If this is going to be such an important racing centre, they have to have an F1 team to compete with. Otherwise it means nothing without F1...The idea is that eventually it could house an A1/F1 office,” added Teixeira for autosport.com.
Being owner of the A1 GP series, the Portugiese official would have the means to build his own chassis, therefore easily entering the F1 as a constructor and not a customer team. Should he make up his mind about entering the Great Circle, he would most likely use Ferrari engines, like he does now in the A1 GP.
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