Mercedes team principal Toto Wolff isn’t convinced that allowing an 11th team into Formula 1 would add sufficient value to the sport.
Michael Andretti and his world champion father Mario are seeking to enter the series with a team of their own. Wolff said he can see the potential value of bringing a new, American team into F1, but isn’t convinced it would justify the cost to the existing competitors.
Speaking alongside McLaren’s Zak Brown and Alpine’s Laurent Rossi in today’s FIA press conference at Miami International Autodrome, Wolff pointed out bringing a new team into the sport would come at a cost to them.
“So many things have been said around an American entry,” said Wolff. “On the pluses, I’m sure that if we have a true American team with an American driver, that would be very beneficial.
“But we have 10 entries today. We divide the prize fund amongst those 10 entries. We have invested considerable amounts over the last 10 years. Each of the organisations that are sitting here on the podium has probably put more than a billion into their Formula 1 projects over the years.
“So it needs to be accretive if a team comes in, how can you demonstrate that you’re bringing in more money than it’s actually costing?”
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Under F1’s rules, new entries are required to pay a $200 million “anti-dilution fee”.
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