Michael Andretti is pushing really hard to join F1 as a team owner. Interestingly, that has not happened yet, as many experts believe Toto Wolff and other Team Principals are resisting the move. Recently, they shared a huge profit from the $211 billion Netflix company through their ‘Drive to Survive’ docuseries. So why are the teams resisting new entrants?
The FIA has introduced an anti-dilution fee, which is $200 million. Andretti and other new entrants are already willing to pay the fee. Many F1 teams are already pushing the FIA to increase the fee to $600 million, which will put doubts in the minds of a lot of new entrants.
Red Bull Team Principal Christian Horner said, “There are all the financial aspects, but I think beyond that, as well is, with the way that the sport has now developed, if you look at the pit lane, for example, here or somewhere like Monaco, Zandvoort, or some of the circuits that we’re now racing at, where would we be able to accommodate an 11th team? I think that in itself, just operationally, where do we put the motorhomes? Where do we put the support? Where do the trucks go?”
In the recent episode of the ‘Unlapped’ podcast, the host said, “The teams that exist at the moment have decided that, considering the values [of the existing teams] that have come out recently, that perhaps $200 Million isn’t high enough. The teams that already exist in F1 want to protect the income they have from F1 and don’t particularly want to share it. If we are going to share it, whoever is coming in needs to increase the size.”
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