“You need more around $1bn if you want to play in this club, ” Toto Wolff slams Andretti’s bid for F1 entry

“You need more around $1bn if you want to play in this club, ” Toto Wolff slams Andretti’s bid for F1 entry

Mercedes Team Principal Toto Wolff

Recently, Michael Andretti has submitted his plans to introduce a new F1 team in 2024. Michael Andretti is the owner of IndyCar team Andretti Autosport and is looking upwards to enter F1 and is awaiting FIA’s decision. Michael is the son of 1978 F1 world champion Mario Andretti.

F1 rules allow a maximum of thirteen teams to be present on the grid. However, the sport has had only ten teams since 2015. If the proposed deal goes through, we will witness 11 teams from the 2024 season, the newest addition being the Andretti Global.

On all this news, Toto Wolff shared his thoughts. The Mercedes boss doesn’t seem to be welcoming at all towards Andretti. And, Toto Wolff is not the only one with this sentiment, as the FIA spokesperson didn’t seem welcoming either.

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The spokesperson said, “The FIA is not currently in a position to consider or comment on any expressions of interest or applications received from potential new entrant teams in respect to the FIA Formula 1 world championship,” as quoted by AutoWeek.

Toto Wolff displeased with the news

Toto Wolff
Toto Wolff

Toto Wolff, as quoted by AutoWeek, said, “10 teams are enough [for Formula 1]. More than that only dilutes the income,” as the boss is conscious of the prizes and costs of the sport.

“Every team that is joining needs to add value. It’s not only by paying a $200m entry fee, but it needs to demonstrate in my opinion what it can do for all the other teams and for Formula 1 and the FIA. Only then the sport will grow,” added Toto.

Quoted by The Race, “We are the absolute pinnacle. This is the Champions League or the NFL. And redistributing franchises on the go is not how it should be. It’s not the intention of F1 and the FIA either. But if a real brand with good people, necessary funding, not only the $200m but probably you need more around $1bn if you want to play in this club straight from the get-go – then why not?” concluded Toto Wolff.

It’s clear from the Mercedes team principal that he doesn’t want another team in F1 and has sent out a message of warning for Andretti, that expand your pockets if you want to be in F1. However, it remains to be seen how the proposal by Andretti is received by other teams and the FIA.

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