Andretti Autosport boss Michael Andretti has responded to suggestions that his team should buy out an existing outfit in Formula 1 if they want to join the world championship.
The paperwork to lodge interest in entering F1 in 2026 has already been submitted to the FIA by Andretti and other applicants. The governing body and F1 are considering whether to accept any of the submissions.Many of the current 10 teams have opposed calls to expand the grid by adding an 11th or further entries. Last week Mercedes team principal Toto Wolff said anyone wishing to join F1 should “buy a team”.
However Andretti made it clear that is not an option at the moment. “We’ve tried. Nobody’s interested,” he told media at the Sardinia X-Prix, an event of the off-road Extreme E series his team competes in.
“We’ve been to every single team. They keep saying ‘well, buy a team’, and nobody wants to sell! You go there, and they’re not even interested in talking. I’ve been there, done that, and not happy.”
Andretti said he is “not really paying attention” to F1 teams being publicly dismissive of his efforts to join, and hopes to “continue to march forward and tick all the boxes that we need to do” to be F1-ready.
“Everybody has their own reasons why they’re doing things, they’re trying to protect their own interests, which, [I] can’t blame them.”
Advert | Become a RaceFans supporter and
“But everybody’s been looking out for themselves,” he added. “And that was the biggest thing, when I said that I got criticised because I didn’t agree with it. If I was in their situation, I’d probably do the same thing. So I don’t blame the teams. They all are going to look at [this situation] for themselves, because that’s what they need to do to be competitive.
“It’s a very, very expensive sport. There’s a lot involved, and there’s a lot of commitment from every team. So they got to make sure they protect that, and I understand that’s what they’re trying to do. But in the end, they’re not going to be the ones that make the decision. It’s going to be up to the series and the FIA to decide if they think it’s the right thing to do.”
Andretti expects a decision on whether any new teams are to be admitted will come “probably closer to the end of the month.”
He said he “feels good” about his chances of joining the grid. “I think we checked every box. I feel good, but feeling good and the reality are always two different things. I think we have everything we need to go in and be competitive and be respectful and add to the series.”
He refuted claims Cadillac’s involvement in his entry bid is merely a branding exercise, emphasising that Andretti would be “bringing one of the biggest car manufacturers in the world” to F1.
“General Motors is very, very involved with this. People are trying to say ‘well, they’re just putting their name on it’. No, it’s a very, very [integral] part of the whole team, and part of the team. I think once everything goes public on what we submitted, you’ll see that it’s a big [involvement].”
Advert | Become a RaceFans supporter and
He said the team’s IndyCar star Colton Herta, the youngest ever race-winner in the category, is under consideration for a drive.
“Colton is very much in your plans,” said Andretti. “If we do get into F1, he’s been our guy that we wanted to focus on to get him there. And he still has a lot of fire to want to do that. So I would just love that, him involved with it.
“He did test the McLaren and did very, very well in the test. Which was very important because you wonder how he’ll adapt and you’ve got to do very well too. I would love to have him be the first competitive American [in F1] in a long time.”
2023 F1 season
- RaceFans’ complete 2023 season review
- The F1 drivers who pulled off the 10 biggest charges through the field in 2023
- Alpine ended season ‘operating at a much higher level’ – Gasly
- Watch 10 of the best ‘proper’ overtakes from F1, IndyCar, WEC and more in 2023
- Verstappen voted Driver of the Year for third year in a row by RaceFans readers
MacLeod (@macleod)
11th July 2023, 7:45
Maybe Toto should sell Mercedes to him 2 things solved in one go.
No he need to make a new team nobody wants to sell…
Proesterchen (@proesterchen)
11th July 2023, 8:32
I’m afraid Mr Andretti and his investors aren’t after a good team. They’re after a 9-figure payday by getting into Formula 1 while the commercial contracts undervalue an F1 entry by hundreds of millions of dollars.
bonbonjai
11th July 2023, 11:38
Thank you. Mr Andretti and his fans seem to think F1’s price 3 years ago is the same now. It is not. That ship valve sailed a long while ago. His best chance was always buying into or a team. He says no one wants to sell. I say he and his investors are not making offers likely to convince F1 teams who now know what their teams on the grid are worth to start talking seriously. Look, Audi wanted a team and to get onto the grid, they got it done. Simples.
anon
11th July 2023, 13:49
bonbonjai, except that, when you look at the terms of the deal between Sauber and Audi, Audi aren’t actually putting a team onto the grid.
The Sauber team have agreed to a “strategic partnership” and will be Audi’s nominated works team for their power unit programme, and Audi have since purchased a minority stake in the team for an undisclosed sum. However, Audi have confirmed that they’re going to remain a minority owner – so, whilst I believe the terms of the deal will allow Audi to nominate a representative to Sauber’s board, the board of Sauber are independent of Audi and, similarly, all of the team’s employees will still remain part of Sauber, not Audi.
The deal that Audi have struck is more similar to the deal that Sauber have with Alfa Romeo – the team will use Audi’s name, as they will be the lead sponsor, and Audi will also be supplying the power unit to Sauber. However, Sauber will still continue to exist as an independent legal entity, will still hold the entry rights independent of Audi and will retain it’s own independent management structure separate from Audi – i.e. it’ll be Audi sponsored, but not owned or run by Audi.
Proesterchen (@proesterchen)
11th July 2023, 13:56
That’s factually incorrect.
Audi have agreed to purchase 75% of the team in tranches of 25% per year, and will only enter Formula 1 under their own brand in 2026, long after this transaction has completed.
anon
11th July 2023, 15:03
@proesterchen the claim that “Audi have agreed to purchase 75% of the team in tranches of 25% per year, and will only enter Formula 1 under their own brand in 2026, long after this transaction has completed.” was a rumour promoted by Joe Saward back in July 2022.
The official announcement of a deal between Sauber and Audi came in October 2022, three months after those rumours were published. The official announcement made no mention of a phased purchase by Audi, with Audi simply stating that “Audi has selected Sauber as a strategic partner for the project and plans to acquire a stake in the Sauber Group. The partnership will see the traditional Swiss racing team competing as the Audi factory team from 2026 onwards using the power unit developed by Audi for the pinnacle of motorsport.”
When you read all of the statements that have been published by Audi more carefully, you will note that Audi has never formally committed to entering a team.
The original statement by Audi back in August 2022 stated that Audi have registered with the FIA as a power unit supplier and only referred to plans to form a partnership with a team to use their power unit.
Similarly, in their October 2022 statement (https://www.audi-mediacenter.com/en/press-releases/audi-selects-sauber-as-strategic-partner-for-formula-1-entry-14981), Audi again only referred to supplying a power unit, whilst at the same time stating that Sauber would remain responsible for designing and manufacturing the chassis, as well as all of the logistical operations and the races themselves.
Whilst Audi committed to purchasing “a stake” in the Sauber Group, they have not stated anywhere that they will purchase a controlling share of the Sauber Group, nor filed a notice with the regulatory authorities stating that they intend to purchase a controlling share of the company.
I have perhaps made one error, which is to state that the team has agreed to use Audi’s name. As it stands, they would use the name for the power unit, but technically Audi hasn’t even officially confirmed that the team will be named after them – their statements only refer to the power unit being branded under the Audi marque, not the team itself.
It is therefore you who is currently making a factually incorrect statement – it is not a statement of fact that Audi have committed to buying a 75% stake in the team in 25% chunks; that is only what third party journalists said was the rumoured agreement, several months before any sort of official announcement came out from either Sauber or Audi.
Proesterchen (@proesterchen)
11th July 2023, 17:23
I’m sure we’ll both be suitably surprised when future changes in ownership are announced.
The error you made was equalling the Audi involvement (currently that of a part-owner) with the branding deal in place with Alfa-Romeo.
grat
12th July 2023, 19:18
And if memory serves, Andretti was going to “buy” Sauber– but Sauber refused to relinquish final control, just as they did with BMW and Alfa-Romeo– and Audi.
Alan S Thomson
12th July 2023, 2:42
He has been trying for over a year to get onto the grid. What more do you expect?
Mayrton
15th July 2023, 8:14
Alpine should be forced to sell. They are not going anywhere and take up space. That is the best solution within the ridiculous rules. The real solution is of course to think about the audience/spectators and allow more teams. But hey, corporate greed always prevails over customer value (right Toto…?).
Jere (@jerejj)
11th July 2023, 8:03
Colton Herta is still short of a super license & doesn’t look like reaching the minimum requirement this year either, looking at the current IndyCar driver standings.
At this rate, becoming eligible in time for 2025 or ’26 seems only more unlikely, so they’d be wise to have other plans in case.
SjaakFoo (@sjaakfoo)
11th July 2023, 8:06
So when is this stupid soap going to end? I.e. when is the FIA announcing the new applicants? This is all so tiring.
Biskit Boy (@sean-p-newmanlive-co-uk)
11th July 2023, 8:07
F1 and it’s current participants have disgraced themselves by being so hostile to the possibility of an Andretti entry. As an F1 fan I’m embarrassed by it. The words “anti-dilution fee” sicken me, it’s anti competition, anti sport.
baasbas
11th July 2023, 9:55
@sean-p-newmanlive-co-uk
I disagree. I’ll concede this process and (mild) mud slinging in the media is not nice. But still, only in recent years the field is changing into franchises. And how it is structured means that for the first time teams are actually worth more and more money. When the value is increasing, I can’t blame teams not wanting to sell. That’s financially an unwise decision.
Also, when he now publicly slates the ‘well, buy a team’ response, he only said he tried. Just maybe he was being cheap and put in ridiculously low offers? I don’t know. Maybe he put in really good offers. I feel the story is way too nuanced to make a dismissive claim like yours
bosyber (@bosyber)
11th July 2023, 12:58
Thanks for that baasbas, solid reply, probably better worded than I would have and captures what I wanted to say about this too
Biskit Boy (@sean-p-newmanlive-co-uk)
11th July 2023, 17:53
My point was there are too many barriers here. There should be no barriers in sport. Buying a team should not be the only way to get into F1. Thats ridiculous.
baasbas
11th July 2023, 19:16
@sean-p-newmanlive-co-uk
That is a perfectly sound opinion. But still an opinion. But there are more sports with a franchise system. Like the NBA.
Personally I think it would be really nice if qualification actually meant, to qualify or not. There were times where you could fail to qualify and that meant you could not race. But there are too many complications. Money for one. But logistically it would be pretty bad at some places as well. And realistically it would only add teams at the back of the grid anyway.. So for me there are enough cars on the grid. I wouldn’t mind Andretti among them. RBR should sell AT to them
Biskit Boy (@sean-p-newmanlive-co-uk)
11th July 2023, 20:44
Franchising creates barriers in sporting terms. I don’t like. In european soccer for an example, a group of guys or girls in a pub can form an amateur team, which over years can become proffessional and rise through the divisions to the top.
Sure there may be financial hurdles, but there are no sporting ones.
F1 is not far off being effectively a franchise system. I hope it changes course.
grat
12th July 2023, 19:22
Except, most major franchises such as the ones referred to by Mr. Horner and Wolff, frequently do add expansion teams– they have a tendency to increase local interest, and increase overall growth of the sport.
The F1 teams, who are already raking in more money than they can spend in a season, are simply trying to protect their bottom line, no matter the cost.
It’s that kind of short-sighted reactionary rearranging of the deck chairs that’s put F1 in the place it is now– raking in money, in a totally unsustainable fashion (and I don’t mean carbon neutral, I mean, the sport can’t keep going the way it is without imploding).
The racing isn’t getting better, the teams aren’t allowed to be innovative, the stewards still can’t come up with a reliable set of guidelines, and the sport is still dominated by one, sometimes two, teams.
Qeki (@qeki)
11th July 2023, 8:10
I get it they want to protect their financial status. But still preventing a new teams entry just because other teams get less money. I didn’t know F1 teams can go so low and the talk about safety concerns is something out of this world. I haven’t heard about drivers point of views but amount of lies F1 teams are putting out is uncredible. Yes they do it all the time in front of media but these things lower the value of F1 so low its amazing how much money do you need to enter. When you have the money other teams will block your way to enter. F1 never amazes me how much of a kindergarden it is. You cannot come to our games because you are a outsider… Somebody do something…
Proesterchen (@proesterchen)
11th July 2023, 8:30
Who would want to give away several hundred million of dollars in value to anyone, much less Mr Andretti and his investors?
Biskit Boy (@sean-p-newmanlive-co-uk)
11th July 2023, 9:48
Answer: No one who is greedy, selfish and an unsporting bully and everyone who puts fairness and sport first.
Proesterchen (@proesterchen)
11th July 2023, 10:05
Wait, “fairness and sport” require 9-figure handouts to Mr Andretti and his investors?
Biskit Boy (@sean-p-newmanlive-co-uk)
11th July 2023, 10:50
BINGO! got it in one. Wow you are sharp.
Of course, the answer is YES. All they want is the same as other teams get.
Proesterchen (@proesterchen)
11th July 2023, 11:02
No other team was handed several hundred million dollars in value by being given an F1 entry.
But that’s what Mr Andretti and his investors are after.
Martin (@f1hornet)
11th July 2023, 12:19
All the other teams were handed several hundred million dollars in value by being given an F1 entry because none of them had to pay a franchise fee to enter F1 when they entered! Ferrari didn’t have to pay that in 1950, and now that’s what Ferrari and their investors are after (along with all the other teams).
S
11th July 2023, 12:28
On the contrary – that’s exactly what the existing teams have been handed with their entries and why they are so protective of them at the moment. Their perceived values (not actual values) have increased due to nothing that they’ve done themselves and through no investment of their own – in fact, it has come partially (significantly) as a result of many of the technical, sporting and commercial decisions they have actively opposed and publicly spoken negatively about.
Perhaps you can tell us why you think that Haas is ‘owed’ that money but Andretti shouldn’t be? What do they bring to F1 as a money-making machine?
No doubt it will revolve around their time of entry, as though that should be of any significance.
We can only assume you are a financial investor in an existing team, with such sustained opposition.
Money is the only reason to oppose new entries – and since F1 money isn’t yours, a team’s money must be.
Proesterchen (@proesterchen)
11th July 2023, 12:57
I must have missed Formula 1 entries being worth hundreds of millions of dollars in 1950. Or 1960. Or 1980. Or 2000. Or 2020.
S
11th July 2023, 13:09
As is the golden rule with regard to all things – F1 teams are only worth what buyers are willing to pay.
And even by the 50’s, Ferrari’s operation would have fitted your ‘worth’ description easily – when currency values over time are taken into account.
Even during the time of this current Concorde Agreement, the teams themselves decided they were only worth $200m and stated exactly as much within said document. That was the price they put on the arrival of a new team, and therefore, the ‘value’ of an F1 entry.
Unfortunately, now that someone’s agreed to pay it they’ve decided they want more.
Proesterchen (@proesterchen)
11th July 2023, 17:42
F1 entries. Not an existing team’s operation.
grat
12th July 2023, 19:24
But they wouldn’t be. Based on last year’s payout, most teams would lose around $10 million / year, with $20 million additional income the first year for every team on the grid. Which most of them can’t spend on their F1 budget due to the cost cap.
Proesterchen (@proesterchen)
12th July 2023, 23:16
This has nothing to do with revenues, and everything to do with the current commercial agreements not lining up with today’s valuations of an F1 entry.
Proesterchen (@proesterchen)
11th July 2023, 8:29
Being a crappy negotiator doesn’t warrant being given several hundred million dollars worth of value.
If they’re not selling it’s because your offer is crap, mate.
asd
11th July 2023, 8:48
@proesterchen
That’s a gross oversimplification. Stop it.
Proesterchen (@proesterchen)
11th July 2023, 10:02
It’s not, though. Mr Andretti and his investors tried to buy a Formula 1 entry multiple times and failed to close the deal every single time.
Others have bought teams no problem.
SteveP
11th July 2023, 20:39
True, but there are many factors in these deals, and things like an unwillingness to care for the current employees and the 3rd party businesses tied in is a negative for most responsible business owners/employers. We know from various sources that Sauber wanted any deal to protect the employees at their home base and the 3rd parties locally.
So, that would be one team that would avoid selling to a person/business that would move the whole shooting match to their pre-chosen site for a new build.
Ferrari? I suspect they’d rather go bust.
RBR? Next joke please.
Mercedes? I think they’d rather sell to Audi :)
Maybe the other end of the grid? I think you can all see where this goes.
His best chance was taking a large chunk of Sauber, but I think he offered low and wouldn’t meet the employee aftercare conditions
Plus, with the observed behaviour to date, maybe they collectively just plain don’t like him.
grat
12th July 2023, 19:25
Sauber wasn’t willing to give up control of the team.
Todfod (@todfod)
11th July 2023, 10:13
@proesterchen
My thoughts exactly. I don’t see Haas turning down a $500 mln+ amount.. Nor Alpha Tauri.
Heck, Gene Haas will do anything to get out of this nightmare of F1 and Gunther Steiner.
S
11th July 2023, 12:31
Andretti’s the smarted guy in this – he knows full well that F1 isn’t worth any more than he’s offering.
The bubble will burst soon enough and that inflated expenditure will be wasted.
Losing so much money doesn’t matter to a manufacturer, but it certainly does to an organisation that only exists to go racing.
Proesterchen (@proesterchen)
11th July 2023, 17:28
If that were true, why the urgency?
S
11th July 2023, 17:55
Because the FIA has announced potential openings for new teams now.
Proesterchen (@proesterchen)
12th July 2023, 9:06
Mr Andretti and his investors have been pushing for a new F1 entry since they failed to buy Sauber in 2021.
S
12th July 2023, 11:44
Yes, the Sauber deal ultimately proved unsuccessful, so they set about creating their own team from scratch – even agreeing to meet the Concorde Agreement’s $200m bribe to receive F1’s commercial spoils.
Andretti have successfully jumped through every hoop placed in front of them so far – even the most ridiculous and unfair ones requested by their future competitors.
All this looks very good for them to be accepted and granted an F1 entry by the FIA.
Coventry Climax
11th July 2023, 12:55
According to the @proesterchen narrative, there’s a 9 figure (care to tell us where you get that from, @proesterchen?) award for Haas as well, which then might explain they too are not very willing to sell, as opposed to trying to get out of the ‘nightmare’?
Proesterchen (@proesterchen)
11th July 2023, 13:34
The value Mr Andretti and his investors are trying to unlock is in the difference between the anti-dilution payment as prescribed in the current set of commercial agreements governing Formula 1 and the value of an F1 entry.
If they can get at in at the current $200 million rate, but that same entry is worth $500, $600 or more million right now, that’s a 9-figure payday for Mr Andretti and his investors right there.
Coventry Climax
11th July 2023, 17:45
And what or who determines ‘the value of an F1 Entry’?
And even if, if it’s ‘in the bricks’, like in a house, you’ve first got to sell it again toget to the money. With no team actually there, as you suggest, that selling will not be easy and not at that price.
But I don’t care actually; I think it’s inherently wrong to lock up the system and keep new competitors from trying, as that’s not what sports is supposed to be about.
Proesterchen (@proesterchen)
11th July 2023, 19:11
As with everything, the value is what the next person is willing to pay. And there are apparently several more next people beyond Mr Andretti and his investors.
No, Mr Andretti and his investors could easily borrow against the value of the company holding the newly minted F1 entry, unlocking their 9-figure payday.
Coventry Climax
11th July 2023, 20:19
Oh come on, why would they want to do that, borrow against ‘the value’?
First of all there’s your ‘value’ again, like it’s chiseled in stone, while at the same time you admit it’s what ‘the next person is willing to pay’. Secondly, if they borrow that money with the goal of putting it into setting up their team and make it competitive, I’m all for it. Thirdly, I sincerely doubt GM is willing to connect it’s name to a project for the only purpose of making someone else rich. They have a goal too, and it’s got everything to do with exactly that name, the brand, the history etc. Sure they want to make money as well, that’s why it’s called a company, but their business plan is most certainly not not what you describe.
I stick to the last sentence of my previous post where I say it’s inherently wrong. And by the way, not just for Andretti, but for anyone.
Proesterchen (@proesterchen)
12th July 2023, 9:13
For the payday, obviously.
I don’t know what GM get for their commitment to stickering that Renault.
I suppose it was made worth their while when Mr Andretti and his investors tried to come up with a quick fix to the ‘bring a bar car company’ line of complaints.
Proesterchen (@proesterchen)
12th July 2023, 9:14
*big car company, sorry
S
12th July 2023, 12:03
They’ll get the same thing every other corporation gets from F1 when they throw money at it.
F1 is marketing – they get advertising space in front of (potentially) hundreds of millions of people.
bonbonjai
11th July 2023, 11:43
Hear Hear. Everything in F1 is for sale, if you offer a price the seller believes matches his valuation of his property. Mr. Andretti, show us the money, and let that do the talking.
Bullfrog (@bullfrog)
11th July 2023, 9:23
Can you believe Ferrari didn’t want to sell?
Proesterchen (@proesterchen)
11th July 2023, 9:59
Must have been spite. Or just hating Americans.
Can’t imagine any other way for such a surefire deal to fail.
Tim (@tsgoodchild)
11th July 2023, 10:04
Everyone and every company has a price. In other words Andretti hasn’t got enough $$$ to tempt any of the 10 teams.
bonbonjai
11th July 2023, 11:52
This thread on Andretti is one of the best comments on this issue I have seen for a while. Elsewhere the andretti fetish gets out of hand.
UNeedAFinn2Win (@uneedafinn2win)
11th July 2023, 15:06
Well, no.
Guggenheim Groups Mark Walter, who owns(!) Chelsea FC and LA Dodgers among others is valued somewhere around 5.6 Billion USD.
The 1001 Group handles assets above 57 Billion USD. Gainbridge CEO Dan Towriss is the founder, CEO and President of 1001.
You know, the partial owners of Andretti Global.
It’s not about money.
MichaelN
11th July 2023, 11:53
Hopefully Andretti takes the Concorde cabal to court. The rules of the championship offer them no say in the matter.
Multiple teams are just subsusting off the series popularity and financial succes that they contribute almost nothing to. They shouldn’t be able to stop new and potentially better teams from joining.
Esploratore (@esploratore1)
11th July 2023, 23:49
Indeed, I don’t really like this gatekeeping!
isthatglock21
11th July 2023, 12:41
Bit like walking into a posh neighbourhood with old school family passed on mansions & offering £100k for them to sell. They had the chance to buy Sauber but pulled out. Was obvious no one else would ever sell a big stake as their sitting on value. If he really wanted to race in F1 they’d have got William which wasn’t that long ago. Just in it for the ££ & recent hype, same reason teams don’t want them cause they’ll take the ££ pie.
S
11th July 2023, 13:12
And what do the current teams want?
How does that make them any different, never mind better?
SteveR (@stever)
11th July 2023, 13:53
IIRC Andretti bailed on the Sauber deal because they wouldn’t have had control of the team. Who would go for a deal like that?
Proesterchen (@proesterchen)
11th July 2023, 14:02
Not Mr Raussing, apparently. 😶
LosD (@losd)
11th July 2023, 14:17
They didn’t get control of the team because they weren’t willing to pay enough for control of the team.
Andretti seems to think someone owes him a cheap entry.
Moshambles (@moshambles)
11th July 2023, 13:33
Whatever the naysayers in F1 or the armchair CEO’s in the comments say, I’d love this to work out for Andretti, preferably without buying an existing team and running the operation from the US. Fingers crossed
MichaelN
11th July 2023, 14:32
All the more so as the main criticism of Andretti and his lack of the means to be competitive (which is not entirely without merit) also applies to multiple current teams.
Todfod (@todfod)
12th July 2023, 13:09
@moshambles
I don’t think another Haas would add any value to the sport.
S
12th July 2023, 14:55
Some people don’t think Red Bull, Mercedes or Ferrari and any value to the ‘sport.’
Some think that Minardi and Jordan were the most valuable teams in F1 in recent times.
Some think that the three new teams in 2010 brought far more value than Haas did when they entered…
But then, it all depends on what kind of value you are talking about.
There are many.
Silfen (@silfen)
12th July 2023, 18:52
I rate Andretti higher than Haas, tbh.
Roger Ayles (@roger-ayles)
11th July 2023, 13:46
The regulations still allow for upto 26 cars so for as long as the grid has fewer than that any entry that meets all of the requirements asked of them by the FIA should be granted an entry and none of the existing teams should have any say in the matter. They never did in the past & shouldn’t now.
It will be utterly pathetic & embarrassing if the FIA state that Andretti or any of the other potential entry’s meet all the requirements but they are still blocked by Liberty & the teams. Will say everything you need to know about how the show & money is been put above the good of the sport….. A sport that used to be about competition with teams big or small allowed to come & compete.
More teams brings more opportunities for drivers, mechanics, engineers, designers etc.. It’s more cars & competition on track for fans to watch & enjoy. Thats what the sport used to be, Not this closed off overly restrictive american franchise joke of a show.
Proesterchen (@proesterchen)
11th July 2023, 14:00
The teams had to agree to grant Mr Stroll his magical new F1 entry in time for the 2018 Belgian Grand Prix.
MichaelN
11th July 2023, 14:29
The teams had no more say over it in 2018. It was and remains the FIA’s job to run the championship according to its rules, which includes the entry of teams and participation in the championship.
Whether a new team is invited into the commercial rights not-a-cartel is seperate issue; Marussia was in F1 without being in the Concord club (for a while).
As Racing Point was a new entry, it is listed seperate from Force India in the 2018 championship, which thus had 11 teams take part.
S
11th July 2023, 14:32
That was due to it being an in-season change of team registration – however, it was and still is the same team as before in every other way.
Just with a different owner.
Proesterchen (@proesterchen)
11th July 2023, 17:30
Force India’s creditors might want to a have a word with you.
S
12th July 2023, 3:05
They’d be better off having that word with the team’s previous owner.
Silfen (@silfen)
12th July 2023, 18:54
24 cars, not 26. The current Concorde Agreement allows for 12 teams, not 13.
S
13th July 2023, 3:08
The Concorde Agreement does not determine how many teams are allowed on the grid – that’s an FIA decision based on the sporting regulations (which allow for 26 – 13 teams of two cars each).
Dane
11th July 2023, 13:59
Imagine Michael Andretti asking to buy out Ferrari. I can almost hear the laughter from Maranello.
SteveR (@stever)
11th July 2023, 15:19
The hate sure runs deep here….
Red Andy (@red-andy)
11th July 2023, 16:20
It is the same few people and a load of sockpuppets @stever. There’s no mileage in griping about Abu Dhabi anymore so they’ve been assigned a new project.
mark toghill
11th July 2023, 15:19
in my opinion, I see no problem with an 11th team, and to all those slatting Andretti don’t you think he knows how much it costs to race a F1 team !!!
if anything the team that should be sold is Alpha Tauri/Torro Rosso/ ??? as owned by Red Bull and so if that’s so shouldn’t they get less for a junior team especially as rumors are they are due to be more integrated with Red Bull Racing, maybe the FIA need to say a team can only be 2 cars per team.
there is no other team that has so much say over a team, Helmut Marko rules both camps
I may be wrong in that statement but hey it’s my opinion and I know it’s not somebody elses but that’s life
SteveP
11th July 2023, 20:52
A scenario:
I might sell, when you ask I tell you the price.
You say don’t be ridiculous and then offer me 1/10th of the asking price
I shrug, shake my head and wander off to do something else
You call me names and other less endearing things
While this was going on, the assessed value of the team has been rising, along with all the others.
You’re surprised I didn’t respond to the name-calling by reducing the price in a rising market, and for some reason you think I’m the fool?
That appears to be the track this has all taken
SteveR (@stever)
11th July 2023, 23:35
Here’s another view; something is ‘worth’ what some one will pay for it. If you put something on offer and no one buys it you’ve priced it too high.
Esploratore (@esploratore1)
12th July 2023, 0:09
That depends on how long it’s been for sale for, big ticket stuff (as a f1 team is) can take a while till a buyer is willing to pay the high price it’s worth, even if it’s only 300 mil.
Esploratore (@esploratore1)
12th July 2023, 0:10
To sell instantly, the price needs to be so ridicolously low that you can’t lose out, let’s say below 200 mil, since the entry fee is 200 and you get some more stuff if you buy an existing team.
SteveR (@stever)
12th July 2023, 5:37
I didn’t mention a time frame. Some times the price is too high.
ryanoceros (@ryanoceros)
11th July 2023, 16:48
What happened to new entries just having to pay the anti dilution fee? Considering the questionable ownership of some of the F1 teams why would they not want Andretti on the grid? Need more teams owned by privileged oil misers?