F1 teams are against plans to introduce more teams to F1 despite support from FIA boss Mohammed ben Sulayem. According to Reuters, a senior team figure believes that a “strong majority” of teams were against expanding the current grid.
It is understood much of the opposition are due to financial concerns through the potential loss of commercial rights money. Teams receive a proportion of the pot based on their finishing position in the Constructors’ Championship.
But, a new entrant could mean squads receive less money as this is divided by 11 teams and not 10. The latest F1 Concorde Agreement stated new teams had to pay a $200million dilution fund to compensate rival teams.
However, it is felt that the value of F1’s commercial rights could reach new heights as a result of the sport’s expansion in recent years. Toto Wolff has been among the loudest critics of the plan to increase the number of teams over fears it could affect pay packets.
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The Mercedes boss explained: “If a team comes in, how can you demonstrate that you’re bringing in more money than it’s actually costing: because the 11th team means a 10 per cent dilution for everybody else. So, if one is able to demonstrate that, then we should all be sitting on the table, and cheer for such an entry.
“But that hasn’t been demonstrated yet. And that may sound a bit dry, because it comes down to the numbers, but the value of Formula One is that it’s a limited amount of franchises. And we don’t want to dilute that value by just adding teams.”
The FIA opened the bidding for new teams to enter the sport earlier this month. Just days later Andretti announced a partnership with General Motors brand Cadillac.
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The American team felt the introduction of a new manufacturer was the final box checked to secure a slot on the grid but it is evident there is still some concern. However, FIA President ben Sulayem hit back at the teams as he claimed the sport needed to “encourage” new constructors.
He posted: “It is surprising that there has been some adverse reaction to the @Cadillac and @FollowAndretti news. The @FIA has accepted the entries of smaller, successful organisations in recent years.
“We should be encouraging prospective F1 entries from global manufacturers like @GM and thoroughbred racers like Andretti and others. Interest from teams in growth markets adds diversity and broadens @F1’s appeal.”