This is the first step to extending the grid beyond the current 10 teams. At the time, he didn’t have the backing of a manufacturer like GM-an American powerhouse.īen Sulayem tweeted just three days before Andretti and GM’s announcement that he “asked my FIA team to look at launching an Expressions of Interest process for prospective new teams” for F1. He hasn’t been shy about making his intentions known but had faced difficulty last season getting support for his plans. “It’s all about greed and looking at themselves and not looking at what is best for the overall growth of the series.”Īndretti, though, did comment how McLaren’s Zak Brown and Alpine have been supportive of his push. “First, they think they are going to get diluted one-tenth of their prize money, but they also get very greedy thinking we will take all the American sponsors as well.

Thus, there is a $200 million “anti-dilution” fee, which essentially acts as an entry fee for new teams.Īndretti didn’t hold back in an interview with Forbes when discussing why he thinks some teams have been resistant to him joining. One of the concerns that continues to be raised is the dilution of prize money. The Concord Agreement currently states the teams split their portion of the sport’s revenue. And while FIA president Mohammed Ben Sulayem seemed receptive to the idea, a majority of the F1 team owners were not. Michael Andretti made headlines last week when Andretti Global and General Motors announced their plans to pursue a Formula One bid under the Cadillac brand. View the original article to see embedded media.

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