American firm Andretti is working to join the F1 grid in 2024. However, its plans have received a lukewarm response from the rest of the teams so far, amid concerns over dilution of prize money. .
Only McLaren and Alpine seem to support Michael Andretti ‘s drive to create an 11th F1 team, after his bid to take over Sauber, which runs the Alfa Romeo team, failed last year when the deal was almost done.
Andretti met with FIA president Mohammed Ben Sulayem in Miami to discuss his plans, revealing that he will go ahead with the construction of an F1 facility in Indianapolis starting this summer.
However, F1 boss Domenicali has questioned the need to add an 11th team to the grid, considering the health of existing teams amid the series’ current boom.
Speaking at the F1 Business Forum , organized by the Financial Times and Motorsport Network in Monaco on Friday, Domenicali said it was “the first time in my life” that all F1 teams were healthy and no one had financial problems.
“They are very solid, and this is something that is a great reward for them,” said Domenicali.
“They’ve invested in us, and that’s why we believe the team community has to be respected.”
“Today, it is not a problem to have more teams, because we have a list. Some make more noise than others, but we have a lot of people or a lot of investors who would like to be in Formula 1.
“But we have to protect the teams. This is really another sign of a very healthy system.”
Stefano Domenicali habló con Greg Maffei y James Allen, de Motorsport Network, el viernes en Mónaco
Asked if he thought F1 had the right number of teams at the moment, Domenicali replied: “I think so.
“And if someone wants to get in, it has to be really significant.”
Any new team wishing to join the F1 grid must pay a $200m anti-dilution fee, which is split among all other teams, under the terms of the latest Concord Pact.
But as F1 continues to grow commercially and the value of the teams increases, questions have been raised as to whether this one-time payment is enough to offset the dilution of the prize fund.
It is understood that the “really significant” interest to which Domenicali refers is that of the large manufacturers.
Both Audi and Porsche appear set to enter F1 under the revised power unit regulations in 2026, but would do so through partnerships with existing teams, such as Porsche’s potential partnership with Red Bull, or potentially acquiring another entry.
Liberty Media CEO Greg Maffei was coy about the possibility of Porsche and Audi teaming up, but said: “We’ve heard the president and CEO of the Volkswagen Group make some statements that suggest they’re interested. We’ll just heed it.” at his word.”
