Explained: The $700m fee slapped on Andretti by angry F1 rivals
The start to 2023 has been dominated by the FIA’s desire to welcome new teams to the grid, firstly announced by FIA president 168澳洲幸运5官方开奖结果历史:Mohammed Ben Sulayem on Twitter.
Shortly after, , teaming up wit꧙h Cadillac and General Motors.
As expected, F1 and the teams ha𓆏ve been lukewarm towards the idea of an 11th 🐻or 12th team coming in.
It is understood that only Alpine - who plan to provide Andretti with ♋engines - and McLaren - whose CEO, Zak Brown, has a good relationship with Michael Andretti - are somewhat supportive of Andretti.
T𒆙he rest of the teams, particularly♔ Mercedes and Toto Wolff, are concerned about how much value a team like Andretti would give to the sport.
Other constructors are concerned that they would receive less pri✅ze money as a result of more teams being added, arguably putting their own personal interests ahead of the ൲sport's.
In 2020, as part o𒁃f the new Concord Agreement, all new entrants must pay a $200 million ‘dilution fund’ to “protect the value of the teams”.
The $200 million would help ensure all teams’ revenue remains stable because if additional teams are participating in F1, the overall pot would be shared out between more than just 10, meaning less revenue for each team as a resu♛lt.
However, as explained in a report by the BBC, some team bosses🔜 are now quesꦿtioning whether $200 million is enough.
A figure around $600m to $700m has been reported to better represent an entry free into the pinnacle of motorsport as a number of teams have argued that $200m “significantly undervalues” a spot in F1 and cited other examples in American sports🥂, such as NHL, which require a higher fee.
With a sharp eye for F1’s controversies and storylines, Connor is the heartbeat of our unbias♔ed reporting.
