After finishing 2nd in the Formula 2 championship in 2020, behind Mick Schumacher, Callum Ilott started driving in the GT World Challenge for Iron Lynx, racing with a Ferrari 488 GT3, where he has achieved two 4th places in the two races of the season so far, standing at 5th place in the championship.

In Formula 1 Ilott is a reserve driver for Alfa Romeo Racing and test driver for Scuderia Ferrari.

When asked by Motorsport.com if he is in the right place at the moment if an F1 opportunity arises despite not racing in single seater he said he is in a "very good position":

“Yuki made a great impression in Bahrain - it was really good to watch, actually.”

“So from that side, it was a good benchmark to say, ‘look, here’s what one guy can do’. With Mick, we all know that he takes a bit of time to get there. But once he’s there, he will be good. And you can already see the pace is getting better.”

“I think they’re doing a good job, and I think it’s only a matter of time before the reference is even closer. And it’s easier for me to say, ‘well, I was in the middle of these two guys!’

llott participated in FP1 at the Portimao GP with Alfa Romeo completing 21 laps:

“I still think I’m in a very, very good position. Yes, I have to wait a year. I’ve seen people wait two. The focus is still on doing the best job as possible on the GT side, and the FP1 side, and then hopefully an opportunity may present itself.”

Ilott analyzed the possibility of entering Formula 2 for another season but it was discarded as he felt it wasn't the right move:

“I had discussions, within Ferrari, within the F2 teams.” 

“But the call was on the late side of what the situation was for F1. And so by that time, you had a lot of the F2 teams already decided, and it’s not so easy to then change teams again and be in another unfamiliar environment.”

“I finished second in the championship with five poles and three wins. I was as close as you were going to get to winning it - not that you don’t want to take that risk. I love to race F2, it was a great format, it’s just there was only one place better I could go. And I think with the three races [in the new format], a lot has changed.”

“Also, as much as regular driving is important, which it is, if you need to need jump in, I think there’s another level of information that you need to learn from F1 which I wasn’t going to maximise if I was doing a full race season in F2.”