Part of the FIA process for new entrants refers to “adding value” though was intended to prevent the scenario where the likes of HRT and Caterham joined with no real value added give their lack of history and non-competitive cars. Only then the sport will grow,” said Wolff. “It’s not only by paying a $200 million entry fee, but it needs to demonstrate in my opinion what it can do for the other teams, for F1 and FIA. Despite the ‘anti-dilution fee’ of $200m the Mercedes boss reckoned it would take a huge amount more to prove the Andretti team ‘brings value’ and aren’t merely another team. When Andretti’s application to the FIA was revealed, Toto Wolff was fairly dismissive. You’d be surprised how much we already have going on and I’m just hoping that good reasoning will prevail here.” “There’s a lot of work going on behind the scenes and our preparation is as if we’ll be given the go ahead. At the moment I can tell you we’d like to be on the grid in 2024. “We’ve been told clearly there’s a protocol and we’re working through that. We’re trying to meet every pre requisite. Previously a team had a nominal fee to pay but were not able to receive any prize money until their second year of competition.ĭespite this huge up front cost Mario Andretti reveals their FIA is progressing well. To protect the value of incumbent teams any new competitor must pay an ‘entry fee’ of $200m up front which is distributed amongst the existing 10 teams in exchange for the ew entrant to share in the prize money. Yet the recent Concorde agreement in 2021 which binds the FIA, the teams and Liberty media contractually altered the criteria for new entrants. Of course the famous Piranha club of F1 team bosses were on the whole less than enthused at the idea of an 11th team joining the sport purely on the basis of short term interests.Īnother team means the pot of money available for distribution amongst the competitors could be diluted. The Global sports company failed to conclude a deal to purchase alfa Romeo early in the 2022 season and has since applied to the FIA to join Formula One as an 11th team. Mario Andretti has spoken out this week concerning the plans for Andretti Motorsport to join the F1 grid for 2024.
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