Mike Gascoyne
Litespeed announced its intention to enter Formula One under the season's budget cap regulations. The team employed MGI Ltd., a company owned by former F1 designer Mike Gascoyne, in order to achieve this goal. When the budget cap was abolished the Malaysian backed team Lotus Racing negotiated with Litespeed to obtain their entry and enter under the Lotus Racing team name, who confirmed the continuing involvement of Mike Gascoyne.