SportF1Haas expects the number asked to enter F1 to...

Haas expects the number asked to enter F1 to increase

F1 has sparked interest from Andretti Autosport to enter the championship as a possible team, which would make it the eleventh structure on the grid. However, Andretti’s plans have not been well received by most of the F1 paddock, especially given concerns about the financial impact caused by the arrival of another team.

According to the Concord Agreement agreed by the teams in 2020, anyone interested in entering the World Cup must pay a fee of 200 million dollars (almost 200 million euros), which is divided equally among the existing teams. That dilution fund is intended to offset the loss of revenue caused by prize money being split between 11 teams instead of 10.

Haas director Gunther Steiner has been clear in his opinion that F1 should maintain the current 10-team grid due to the stability and economic health of all the teams. “There are 10 very good or good teams, they are all stable,” said the Italian in Canada in the previous race. “Why should we change anything if it works like this? Right now, we’re in a good position.”

Asked by if he thought the dilution fund proposal worked, the Haas chief executive said it should be adjusted in the future to reflect F1’s booming business since the $200m figure was agreed. Dollars.

“The fund was established a couple of years ago, when the value of Formula 1 was different,” he said. “So I think one of the things is going to be whether we should readjust it to the current market value, which is much more than it was then. But I think it’s a very difficult process to do.”

“If you’re realistic and you look at when we signed the contract in 2020, the teams were worth a lot less money than they are today. The sport has made a huge progression in value. So at some point it will adjust, but I don’t think it’s the biggest problem.

Andretti came close to securing F1 participation last year through a majority takeover of the Sauber Group , which manages the Alfa Romeo team, but the deal fell short.

With none of the remaining teams wanting to sell, and with their value forecast to approach $1 billion in the next few years, many championship figures have made it a point to protect the current grid and reward their investment.

In Monaco, F1 CEO and president Stefano Domenicali said any new entry would have to be “really significant” and that he thought 10 teams was the correct number for the series.

“Right now it’s not a problem to have more teams, because we have a great list,” Domenicali assured. “Some are louder than others, but we have a lot of people or a lot of investors who would like to be in Formula 1. Mind you, we have to protect the teams. This is really another sign of a very healthy system.”

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