Wolff reveals teams 'stuck' together on F1 future amid potential Andretti entry
F1 News
Wolff reveals teams 'stuck' together on F1 future amid potential Andretti entry
Many team bosses have opposed Andretti's potential entry into F1 due to the impact on their business models when it comes to prize money distribution.
For a long time, there has been talk of the entry of an 11th team to the grid, eagerly anticipated by many fans seeking more competition. Earlier this year, the FIA opened a registration process for new teams, in which Andretti appears to be the leading candidate to become a new team, submitting an application to join the grid in 2025 or 2026.
Michael Andretti's team has the support of General Motors' Cadillac brand, and after months of thorough analysis of their proposal, the American outfit has met all the criteria ranging from technical and financial capability to the environmental sustainability of their project, demonstrating that they have the capacity to participate in the category.
The Concorde Agreement allows for up to 12 teams on the grid, but many team principals have opposed the entry of a new outfit.
“I think why F1 and the teams have survived in the last years is because we all stuck together,” said Mercedes Team Principal Toto Wolff to Motorsport.com.
“The FIA, FOM and the 10 teams, we need to protect the sport. We’re holding this sensitive sport that’s growing at the moment in our hands.
“And that’s why the right decisions need to be taken all of us together, when it comes to, let’s say, a mindset and then obviously the FIA and F1 when it comes to these decisions, because it’s out of the teams’ hands." He added: "But I would hope that [FIA president] Mohammed Ben Sulayem, and Stefano will take the right decisions for F1.”
Other team principals like Zak Brown, Guenther Steiner, and Alessandro Alunni Bravi have also supported Wolff's words, expressing their opposition to the entry of a new team onto the grid.
"I believe our perspective has not changed, and we will wait to see how the process unfolds," said Brown. "The only thing I would say is that the value of a Formula 1 team and an entry into what it was five years ago, the sport is worth much more now, so I think it needs to be discussed."
READ MORE: Andretti insists 'BIG THINGS' in store as F1 grid rumours swirl
The impact of a new team on the grid
The impact of a new team on the grid goes beyond raising competition; it would also affect the distribution of prize money and revenue sharing among teams.
The Concorde Agreement signed by the teams in 2020 stipulates that a new team on the grid would have to pay a fee of $200 million, distributed among the existing 10 teams, which would amount to $20 million for each team.
However, team principals argue that the $20 million each existing team would receive represents a loss of prize money due to the addition of a new team, making it not financially viable for any of them.
They believe that since 2020, the rapid growth Formula 1 has experienced, along with market changes, has significantly increased the value of a team on the grid.
READ MORE: F1 boss warns 11th team could lead to BANKRUPTCIES
Related news
Who could race in F1 for Andretti? From key Red Bull asset to IndyCar sensation
Andretti labels F1 team entry pushback a 'mystery'
F1 team boss reveals HARSH Andretti Cadillac entry truth
Andretti claim they have 'RIGHT' to be on F1 grid
Most read
FIA take action after Verstappen track limits mishap
F1 News Today: FIA make changes as Mercedes receive double penalty and Horner curses bad luck
Stroll issues Alonso Aston Martin contract verdict
Red Bull to replace driver at Abu Dhabi Grand Prix
Horner takes aim at Kravitz with savage jibe at Sky Sports pundit
F1 Standings
Drivers
- Charles Leclerc
- Carlos Sainz
- Lando Norris
- Oscar Piastri
- Pierre Gasly
- Esteban Ocon
- Sergio Pérez
- Max Verstappen
- Alexander Albon
- Logan Sargeant
- Lewis Hamilton
- George Russell
- Nico Hülkenberg
- Kevin Magnussen
- Fernando Alonso
- Lance Stroll
- Valtteri Bottas
- Zhou Guanyu
- Nyck De Vries
- Liam Lawson
- Daniel Ricciardo
- Yuki Tsunoda
Races
- Gulf Air Grand Prix of Bahrain 2023
- Saudi Arabian Grand Prix 2023
- Grand Prix of Australia 2023
- Grand Prix of China 2023
- Grand Prix of Azerbaijan 2023
- Miami Grand Prix 2023
- Qatar Airways Gran Premio Del Made In Italy E Dell'emilia Romagna 2023
- Grand Prix of Monaco 2023
- AWS Gran Premio de España 2023
- Grand Prix du Canada 2023
- Grand Prix of Austria 2023
- Aramco Grand Prix of Great Britain 2023
- Grand Prix of Hungary 2023
- Grand Prix of Belgium 2023
- Heineken Dutch Grand Prix 2023
- Grand Prix of Italy 2023
- Grand Prix of Singapore 2023
- Grand Prix of Japan 2023
- Qatar Grand Prix 2023
- Grand Prix of the United States 2023
- Gran Premio de la Ciudad de Mexico 2023
- Rolex Grande Prêmio de São Paulo 2023
- Heineken Silver Las Vegas Grand Prix 2023
- Grand Prix of Abu Dhabi 2023
About GPFans
GPFans is a multi-platform, multi-language brand dedicated to Formula One coverage. We bring you all the ins and outs of the sport, 24/7, everything from up-to-the-minute news and features to the latest viral stories and clips.We believe that a new generation of exciting, outspoken drivers will make F1 more popular than ever before, and we want to give our users access to as much of their heroes as possible, on and off the track. From Lewis Hamilton to Max Verstappen, Daniel Ricciardo to Sebastian Vettel, we provide in-depth analysis of every every Grand Prix in the season, from Australia to Abu Dhabi.
With Formula One under the new ownership of Liberty Media, how the sport is being covered is evolving, and GPFans will look to be at the heart of this progression into new media, as one of the fastest-growing sites covering the king of motorsports.
Follow us on your favorite social media channel
Corporate & Media
Innovatieweg 20C7007 CD, Doetinchem, Netherlands
+31645516860