While Formula 1 may be struggling to invigorate the spectacle of racing amid another anticipated year of Red Bull dominance, one area it is not struggling in is the off-track coffers. With more races than ever before, and the bumper profits that go with it, an inevitable side-effect is wandering eyes from afar. The sport’s governing body, the FIA, has thus opened an “expressions of interest” process in January for new potential teams to join the current 10-team grid, perhaps as soon as 2025. Enter Calvin Lo: a Hong Kong-based billionaire. CEO of R.E. Lee International, the world’s largest life insurance broker, the 45-year-old has been “hooked” on the sport since glimpsing Michael Schumacher’s Ferrari on TV in the early 2000s. A trip to Shanghai for the first Chinese Grand Prix in 2004 underlined that adoration. But now, spectating from the paddock isn’t enough. “I’m having serious discussions about getting involved right now,” he tells The Independent, from an office in Singapore, with all the paperwork lying in front of him. “There’s actually quite a few proposals in front of me right now to see how I can participate. “F1 needs more teams. There’s too many talents in motorsport to not have more teams. But when I go through it, it is highly aspirational and absolutely, very ambitious. Still, I’d loved to be involved financially.” But not at the cost of his reputation. Financial prudence and sustainability are at the forefront of his thinking, with the extended FIA deadline for applications closing on Sunday. The entrance fee for any new team is $200m, shared by all the current teams. Mercedes boss Toto Wolff has previously remarked that $1bn is realistically required to fight at the front, a figure Lo agrees is “fair” given the basic costs of recruitment and car development. “I won’t get myself into that vicious cycle where I can’t hit those financial markers,” he says, adamantly. “Putting money into the team is not the difficult part. It’s making sure it’s sustainable; otherwise it’s embarrassing for everyone. It’s very intricate, even with an established group of people, with all the sponsorship and the detail. “But there’s so much potential in this part of the world – it’d be so advantageous to the Asian community and to the F1 ecosystem.” Audi have already confirmed their entry in 2026, taking over from Alfa Romeo (Sauber), while American giant Ford has partnered with Red Bull for the world champions’ new powertrains division. While Lo was tight-lipped about naming potential partnerships, he did emphasise his eagerness to join forces with a new team via the current FIA process. Confirmed bids from Andretti Cadillac, as well as a mooted submission from junior formula outfit Hitech GP, were ruled out. An association with Panthera Team Asia, therefore, seems most probable at this point. Lo also has a financial link with Williams’ F1 team, who were bought by private investment firm Dorilton Capital nearly three years ago, but non-disclosure agreements preclude him from elaborating further. He was insistent, however, that any new team would not present a conflict of interest. Instead, his new venture, likely based out of Asia, would be his primary focus. The continent is a “huge untapped market” for the sport, in Lo’s view, amid the Americanisation of the sport witnessed at the weekend in Miami. An academy for drivers and academics alike is also a target. “To truly make F1 global, we cannot forget this part of the world,” he says. “There are races, but the penetration is not high and it’s wasted. “I would love to have an Asian team with a base in the Pearl River Delta [the wealthiest region in south China]. The initial few seasons would be tough but it’s important for the sport to have more exposure and commitment here. “It’d be great to have an academy here. Recruiting talents not just for F1, but aeronautics and legal avenues. For young people to be exposed to this kind of world, it could change someone’s life. “With [F1’s new regulations in] 2026 and the net-zero target of 2030, now is the perfect time to be involved behind the scenes.” Working in the shadows is just how Lo operates. Widely publicised as the “secretive” or “under-the-radar” billionaire – who has a net worth of $1.7bn (£1.3bn) according to Forbes – he covets privacy, despite a lucrative lifestyle which includes owning a suite of supercars and a collection of tip-top champagne, with a single batch costing $230m. “If I go into F1, you won’t see me,” he reveals. “It’s not my style. It’s also partly to do with my main business and working with clients. “In my view, the wealthier you are… you don’t go out and flaunt it. Well some do, most don’t!” McLaren CEO Zak Brown believes there will be at least four prospective teams interested in joining the sport, while F1’s regulations cater for only two more spots. Lo has been included in an initial application to play a financial role – even if he won’t be the face of said new team – and the FIA intends on making a decision about which teams will be granted a shot at the big time by the end of June. “By 2026, it will be a different world we live in and it’d be pretty amazing to be part of that change,” he concludes. “It’s now about looking at all the plans and making a decision truly from a financial point of view. “The skeleton is already there. It’s now just getting everyone to commit themselves.” Read More FIA formally opens applications for new teams to join F1 grid Andretti joins forces with General Motors to target Formula 1 entry FIA boss ‘surprised’ at ‘adverse reaction’ to Andretti’s F1 bid with Cadillac Aussie billionaire David Dicker enters race for new team to join F1 grid Ford to rejoin Formula 1 as engine partner for Red Bull from 2026

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Fans of Diet Coke have reacted with despair at reports that the World Health Organisation (WHO) may catagorise aspartame – an artificial sweetener in the drink – a potential carcinogen. It was reported on Thursday (29 June) that the health organisation’s cancer research unit, the International Agency for Research on Cancer (IARC), is preparing to label aspartame as potentially cancerous from July. Aspartame is a low-calorie artificial sweetener that is approximately 200 times sweeter than sugar and is used in a huge number of soft drinks, including Diet Coke, Pepsi Max, Diet Irn Bru, and Sprite Zero, among others. It is also used in foods such as chewing gum, candy, breakfast cereal, frozen desserts and puddings, and gelatins. Although the IARC’s ruling on the sweetener remains confidential until July, Diet Coke fans are already wondering if they might have to give up their favourite fizzy drink. “If they interfere with Diet Coke it will be the final straw for me I’m afraid,” one person warned. Another joked they have already “drunk the Diet Coke equivalent of swimming at a superfund site” in their lifetime. “You can take away my Diet Coke when you pry it out of my cold dead hands,” a third mordantly added. “Listen, if you’re going to take away Diet Coke from us, you better be prepared for 72 per cent of women aged 25-45 to quit their jobs,” another person claimed. “That’s all I’m saying. *Cracks open third Diet Coke before noon*” Others appeared smug that they had never switched from regular full-fat Coke – which contains around 10.6g of sugar per 100ml, equating to 35g per 330ml can – to the low-sugar version. One person referred to a scene from hit series Friends that showed Chandler (Matthew Perry) shouting: “I knew it!” Another said: “I told you all that Diet Coke was just as bad as regular Coke.” The IARC is expected to make its decision over aspartame public on 14 July, the same day as the Joint WHO and Food and Agriculture Organisation’s Expert Committee on Food Additives (JECFA), which is also reviewing aspartame use this year. JECFA has said it is safe to consume aspartame within accepted daily limits since 1981. An adult weighing 60kg (132 pounds) would have to drink between 12 and 36 cans of diet soda every day to be at risk, a view widely shared by national regulators. The additives committee “conducts risk assessment, which determines the probability of a specific type of harm (eg., cancer) to occur under certain conditions and levels of exposure”. The review of aspartame comes after a study conducted by experts from the French National Institute for Health and Medical Research, and Sorbonne Paris Nord University, published on March 2022, claimed it could increase the risk of cancer in people who consume it. But previous large-scale studies on humans have not revealed similar associations. A separate study published last December found that aspartame was linked to anxiety in mice. The deputy chief scientific adviser of the UK’s Food Standards Agency, Rick Mumford, commented on reports and said: “Our view is that the safety of this sweetener has been evaluated by various Scientific Committees and it is considered safe at current permitted use levels. “The IARC report has not yet been published and, when it is, it will be examined by the JECFA, who will put together a risk assessment by the end of July. We will closely study JECFA’s report and decide whether any further actions are needed.” The Independent has contacted Coca-Cola for comment. Read More Walk this way... but not like that: How men’s walks became sexualised Colleen Ballinger: Everything we know about the ‘grooming’ allegations against YouTuber Miranda Sings Kevin Costner’s estranged wife says she’ll move out of their $145m home on one condition ‘My small rash turned out to be a parasite living in my leg after a beach trip’ Chrissy Teigen welcomes fourth child – how does surrogacy actually work? Heart disease digital check-ups for over 40s being rolled out

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Style icon Iris Apfel has celebrated turning 102 years old in true “Barbiecore” fashion. Apfel reached the milestone age on Wednesday 29 August. In honour of her birthday, the fashion designer shared a pink-filled photo of herself to Instagram, with Kool & The Gang’s "Celebration” playing in the background. “102 today… who would’ve thought!!” she captioned the post, which featured animated pink balloons flying over her head. In the image, Apfel posed in her eccentric New York City apartment, complete with a white porcelain dog statue and a gold accent table. She was dressed in head-to-toe pink, along with her signature oversized, black round eyeglasses. Apfel wore a large, baby pink cape à la fellow icon André Leon Talley, and layered, chunky necklaces and bangles. She finished the look with salmon-coloured trousers, floral socks, and hot pink ballet flats with a bow. In the comments, many fans and famous friends rushed to wish the 102-year-old interior designer a happy birthday. “HBD, Iris!!!” wrote none other than the official Instagram account for Barbie. “You make 102 look fabulous!” said one fan. Another follower commented: “As beautiful as ever!” “Forever an icon,” a third person said, while someone else wrote: “What an achievement!” On Tuesday, Apfel also celebrated her birthday with an intimate dinner at Tutto il Giorno in the Hamptons, New York, where she was joined by designer Donna Karan, model Christie Brinkley, and Brinkley’s daughter, Alexa Ray Joel. The model shared a series of photos and videos with the fashion legend to Instagram in honour of her birthday. “Happy Birthday to Iris! She’s 102 and she’s got more style than me and you!” Brinkley captioned her poem-like birthday tribute. “She’s the queen of fashion who gets better every year, and today’s her birthday, did you hear? She’s got her trademark glasses and a wardrobe of fun and we wish her every happiness under the sun. “She’s smart and savvy and extremely witty and she wants everyone to know that individuality is always pretty, that we should all be ourselves, one of a kind,” Brinkley wrote. “Good advice like that’s hard to find. So thank you Iris for all you do, to say to people, ‘You do you!’ (Like you do so well!). Happy Birthday Iris! We LOVE YOU!” Apfel was born in 1921 in Queens, New York, to a father whose family owned a glass and mirror business, and a mother who owned a fashion boutique. Along with her late husband, Carl Apfel, she launched the textile firm Old World Weavers in 1950, which ran until they retired in 1992. Throughout her career, she took on restoration projects in the White House for nine US presidents. In 2005, she showcased her large collection of clothing and accessories in an exhibit at the Metropolitan Museum of Art’s Costume Institute, titled “Rara Avis (Rare Bird): The Irreverent Iris Apfel”. Her decades-long career in fashion and design became the subject of a 2015 documentary, simply called Iris. In 2019, she signed a modelling contract with global agency IMG at age 97. In an interview with Today following her 100th birthday, Apfel spoke candidly about her age and revealed why she’ll never retire. “Oh, I love to work. It’s fun because I enjoy it,” she said. “And then I can help people. I can give employment. People tell me I inspire them. So many good things come out of it.” “I think retiring at any age is a fate worse than death,” she continued. “Just because a number comes up doesn’t mean you have to stop.” Despite turning 100 at the time, Apfel explained that she didn’t see her age as a reason to “change” her lifestyle or career “overnight”. “I didn’t change overnight because the number changed,” she said. “I want to keep on working and doing different projects.” Instead, her motto at work is to “just do what [she]” feels and to do what she feels in her heart, rather than “verbalising” it. “I just feel it. If it feels right here,” she said, pointing at her heart. Read More 100-year-old fashion icon Iris Apfel reveals why she’ll never retire: ‘A fate worse than death’ Style icon Iris Apfel signs modelling contract with IMG, aged 97 Social media's 70-up 'grandfluencers' debunking aging myths Staggering environmental advantages of buying second-hand clothes revealed Why do we crave brand new clothes and how can we resist the urge to buy them? Chanel is opening a beauty-themed pop-up ‘diner’ with no burgers or French fries

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