F1 CEO Stefano Domenicali breaks silence on Toyota return rumors
Stefano Domenicali responded to speculation surrounding Toyota's alleged interest in returning to F1 as a new team.
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Stefano Domenicali (via IMAGO) and Toyota logo (via Toyota)
Toyota, one of the biggest automakers in the world had been missing from Formula 1 for over a decade. Toyota’s Gazoo Racing division signed a technical partnership with Haas last year. Now, F1 CEO Stefano Domenicali has reflected upon the prospects of the Japanese carmaker entering its own team in the future.
Since the Haas deal announcement, rumors emerged that Toyota might be interested in a full F1 comeback. Though, initial these reports were dismissed. Now, the Japanese carmaker has once again hinted at wanting to have a spot on the grid soon.
Stefano Domenicali emphasized that the sport needed to approach the situation calmly. The F1 CEO pointed out that many would be interested to join the grid considering the sport’s commercial gains. He further stated that the grid is already set to expand in 2026 with General Motors. Domenicali was ready go evaluate a Toyota proposal. However, he has not heard about such a plan yet.
We must be prudent and do things calmly. Right now, everyone would like to come in… For now, there are ten teams, and in 2026, the eleventh team will arrive… Evaluations will have to be made if there are requests. To date, I have not heard anything about it, but as always, we will evaluate all the options.
Stefano Domenicali said, as reported by FormulaPassion.it
Stefano Domenicali points major change for making teams profitable
Formula 1 introduced the cost cap in 2021. This put a fixed budget for all teams, stopping the spending spree done by the big teams. Stefano Domenicali reckoned that the cost cap has allowed teams to be profitable, making the sport much more desirable for new entrants. This might be one reason behind Toyota’s new-found interest.
This [cost cap] is the keystone because, after the introduction of the spending ceiling, the most important teams earn money and are no longer cost centers or investments in marketing. This is very important.
Stefano Domenicali
F1 is in a good position at the moment. The existing teams would want a substantial dilution fee from Toyota if the Japanese carmaker does plan on launching a bid in the future. For fans, seeing one of the biggest automakers return to the grid would make the competition even more exciting.
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Armaan Agarwal
(2308 Articles Published)