Gumball 3000 targets new team

Cooper told Autosport at the weekend that he is to start sponsoring an F1 team later this year, tipped to be BAR. His company has set its sights on purchasing an F1 outfit to form his own team within the next few years - along the lines of the fun-living outfit established by Lord Hesketh in the 1970s.

"We are trying to treat our Gumball brand like something as powerful as Virgin, and buying an F1 team is part of that," he told Autosport. "It's early days for us in Formula 1 at the moment, but we are starting to have a presence and we don't know what can happen in the future.

"It is our aim to create something like that," he added, referring to Hesketh's wild antics 30 years ago. "I have been invited to races in F1 before by people because they want me to bring celebrities along, but I don't want our team to be like that. I want people to hang out with us."

Cooper will not bankroll the F1 team himself, with investment instead coming from Gumball 3000 competitors, who he believes are keen to see the brand in F1. Around half of the 100 Gumball regulars are understood to be in the Fortune 500 list of the world's wealthiest businessmen.

"We are talking about something happening in the short term, and that probably means within five years," added Cooper.

Next year's Gumball 3000 rally will end in Monaco's Casino Square on the Friday of the Monte Carlo Grand Prix.