MAY 20, 1996
Shannon plans move to F1 in 1998
THE Shannon Racing Team - which competes in both Formula 3 and Formula 3000 around Europe - is understood to be planning to enter Formula 1 in 1998, and rumors in the paddock at Monaco suggest that the intention is to form an alliance with Minardi.
Shannon has only recently arrived in motor racing and there is a great deal of confusion as to exactly what the team does to fund its racing. There is no doubt, however, that money is readily available with the green and white Shannon cars being raced in no fewer than five different Formula 3 series and a Formula 3000 team. Conservative estimates as to the budget for this season - Shannon's first in racing - are around $2.5 million and the organization is employing a string of talented young drivers such as Denmark's Tom Kristensen, Frenchman Emmanuel Clerico and Italians Andrea Boldrini, Alberto Scilla, Gianluca╩Paglicci, Rangoni and Giancarlo Pacchioni.
Although the name of the company is Irish and the green and white color scheme adds to that image, we understand that Shannon is an Irish company in name only, and it is owned by Italians and run out of offices in Milan. There are also believed to be links to the financial institutions in Switzerland.
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