Twelfth Team Applies for a Spot on the F1 Grid in 2027

In a surprising development out of the Middle East, a report from Kuwait has revealed that a wealthy entrepreneur is seeking to revive a long-dormant presence in Formula 1. The investor, Saad Kassis-Mohamed, has announced bold plans to bring back the defunct Caterham team to the grid under a new entry known as SKM Racing, with eyes set on the 2027 season, pending FIA approval and an agreement with the commercial rights holder.

In a press release currently being circulated online, the following statement has been widely quoted:
“We are announcing that Saad Kassis-Mohamed Capital plans to return a dormant F1 entrant to the grid under a new entry, SKM Racing, targeting 2027, subject to FIA approval and agreement with the commercial rights holder.”

The team in question, Caterham, previously participated in Formula 1 between 2012 and 2014 before going bankrupt. It notably fielded drivers such as Giedo van der Garde, and others, during its brief stint in the sport. The vision now is for SKM Racing to revive the spirit of Caterham — with a modernized structure and ambitious financial backing — after a decade-long absence from the elite level of motorsport.

The proposal is spearheaded by Saad Kassis-Mohamed, a 24-year-old entrepreneur who gained recognition by Forbes as one of the “Thirty Under Thirty” for his Social Impact in Africa. In addition to operating a charitable foundation on the continent, Kassis-Mohamed leads the investment firm SKM Capital, which now hopes to bring modern infrastructure, innovation, and financial muscle into Formula 1.

According to reports, SKM Capital aims to inject €280 million annually into the new project, an amount that — while significant — does not guarantee admission into the highly exclusive world of Formula 1. Recent cases, such as Cadillac’s protracted attempt to join the grid, have underlined just how intricate and politically sensitive the entry process is. Even with notable backers and extensive funding, Cadillac’s path required complex negotiations concerning revenue distribution and alignment with strategic interests of the FIA and existing teams before their entry could move forward.

For now, the SKM Racing operation remains in its early planning phase. Kassis-Mohamed has reportedly identified several key personnel for the endeavor, including Elena Richter as Managing Director, Marco Bianchi overseeing Technology, and Aisha Khan heading Performance. However, direct confirmation of their roles remains unverified at this stage.

If successful, this plan would bring a twelfth team onto the Formula 1 grid — a significant expansion in the current era of budget caps, commercial parity, and intense competition. Whether SKM Racing can surmount the bureaucratic and technical barriers that lie ahead is yet to be seen, but the ambition and investment are clearly present.

Team V.DIR-EM-UAE