F1 teams show their disapproval towards Andretti, slap a $700 Million entry fee

F1 teams show their disapproval towards Andretti, slap a $700 Million entry fee

Andretti

Andretti Motorsport and General motors shocked the whole paddock when they announced their collaboration for a F1 entry bid. However, the teams in the sport itself aren’t very jolly about the idea. After all, F1 is also a business and the thought of sharing the revenue hasn’t really sat well with others. This has filled the American outfit’s road to F1 with plenty of obstacles. 

The 2020 Concorde agreement stated that for a new team to join the sport, they would have to pay an entry fee of about $200 million. This amt could also be known as a ‘dilution’ fund in order to “protect the value of the teams”. That was 2 years ago and the sport’s value has shot up massively since then with fans getting to witness two different and consecutive title fights. 

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Previously, it was agreed that the 200 million dollars would help the teams to ensure that their revenue will be stable as the overall revenue would have an impact as it would be shared with one more team. This in turn would mean that the remaining 10 teams would receive lesser revenue compared to when there would only be 10 teams on the F1 grid. 

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Related: “Any conversations around buying McLaren is a non-starter” : Zak Brown

Reports state that the F1 teams want 700 million dollars from Andretti 

Andretti
Andretti

According to a report from the BBC, Team principals of the respective F1 teams are wondering whether 200 million dollars is enough of an amount for Andretti to pay. A figure of about 700 million dollars is reported to be the ideal number for a new team’s entry fee. It has been made clear that 200 million dollars is a very small sum for a spot in the pinnacle of motorsport. On the other hand, sports like NFL need a much higher fee for new entrants. 

While McLaren and Alpine are a bit supportive towards Andretti entering F1, the same cannot be said for the rest of the grid. Toto Wolff of Mercedes also went on to question the ability of Andretti adding value to the pinnacle of motorsport. Discussions are still going on and the chances of the American Motorsports outfit joining F1  seem a bit tricky as of now. 

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