Stefano Domenicali claims potential buyers are ‘offering Billions’ to F1 teams amidst the sport’s global boom

Stefano Domenicali, the Chief Executive Officer of F1, has shared major news regarding the massive outside interest that the F1 teams have been experiencing in recent times. Domenicali has made it known that certain external parties are willing to pay billions to get a stake in the current teams or arrive in the sport as a new entrant.

F1, since the takeover by Liberty Media, has grown exponentially in all its facets. Because of this fact, the external parties have realized the growth potential of the sport and trying desperately to get in. Stefano Domenicali, while shedding light on the same, said, “If you look what has happened in such a short term, talking about the value of one team, that was not many years ago.”

“I would say two years ago when the new Concorde Agreement was signed…Now the market is offering almost billions to teams and they are refusing that. Can you imagine that? So that gives you the perspective of what we are building as an ecosystem. We are building important structures, important dynamics of which the more everyone is growing, the better and the stronger the business platform in which we are all working in,” Domenicali added.

Stefano Domenicali has made it clear that F1 is building something special with its current structures and plans for the sport. He feels that the outside parties are taking note of it and the global interest in the sport and thus are willing to pay massive sums keeping in view the long-term picture.

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Stefano Domanicali’s take on having an additional team in F1

While Stefano Domenicali is placed with the pace at which the sport is growing, he feels at the current point in time; there is no need to increase the number of teams in the sport. He deems the current F1 model as perfect and, on the topic of having an 11th or 12th team, said, “I don’t think so; that’s a personal opinion, I need to say that. If you have a good show, 20 cars are more than enough.“

“If you have two cars or two drivers fighting, the level of attention is mega. So if you already have two teams fighting, that means four cars, it’s just incredible. So can you imagine 20 cars, 10 teams are at the level where there is competition on track? It would be impressive.” However, despite his stance, he feels the prospect of additional teams can be considered if the right proposal comes in.

“I want to see the right one and I need to also respect the ones that have invested in F1 in the last period because we forget too quickly the respect. Now everyone wants to jump in the coach that is very fast. But we need to be prudent, we need to take the right decision. That’s what I’m saying.“

Domeonicali has given an in-depth account of his feelings about having additional teams at the pinnacle of motor racing. The sport is in a boon period and is expected to stay there for some time. Considering this, what do you think about having additional competition in F1? Would it be a move in the right direction?

In case you missed it:

• “Not a sport of manipulation,” Formula 1 CEO Stefano Domenicali makes big promises of changing rules to end single team dominance
• Lawrence Stroll writes off Perez and Hamilton, claims Aston Martin will secure double podium at Canadian GP

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