Amidst the sport’s massive spike in popularity, various car manufacturers have shown interest in joining F1 ahead of the regulatory changes that are set to be introduced in the 2026 season.
Since the release of the Netflix docu-series “Drive to Survive,” F1 has enjoyed massive growth in terms of fans, viewership, engagement, and ticket sales, making it quite an attractive sport to become a part of.
Formula 1 CEO Stefano Domenicali recently suggested that various manufacturers have expressed interest in joining the sport as new teams, with Ford, Honda, Hyundai, and Porsche named as the main ones, as per Auto Motor und Sport.
All four manufacturers are big players in the car market and have different goals in mind when it comes to potentially joining the sport.
As per FanNation, Ford will be looking for an opportunity to work with Red Bull Racing from a financial and marketing standpoint, while Hyundai is expected to be exploring the “feasibility of an engine program” with the intended entry being 2027.
The former team principal of Renault F1, Cyril Abiteboul, has joined the Korean team Hyundai Motorsport as the team boss, although very little is known about the manufacturer’s plans to join F1. Regardless, their interest in the sport is to be “taken seriously,” according to reports.
Andretti is also making a great effort to join the sport as early as 2024 and is currently having serious discussions with the FIA to make it a reality.
Mercedes boss fears that new teams in F1 will ‘dilute the value’ of the sport
Mercedes boss Toto Wolff has a very clear point of view about the prospect of new teams entering Formula 1. He believes that as long as a new team can guarantee it will bring in more revenue than the cost for existing teams, nobody will have a problem with the prospect. However, according to Wolff, chances remain high that a new team will simply further dilute the revenues of the existing ten teams in the sport.
As reported by PlanetF1, back in May 2022, during the Miami Grand Prix, Wolff said:
“If a team comes in, how can you demonstrate that you’re bringing in more money than it’s actually costing: because the 11th team means a 10 percent dilution for everybody else.” “So, if one is able to demonstrate that, then we should all be sitting on the table, and cheer for such an entry. But that hasn’t been demonstrated yet. And that may sound a bit dry, because it comes down to the numbers, but the value of Formula 1 is that it’s a limited amount of franchises. And we don’t want to dilute that value by just adding teams.”
Michael has applied to the FIA to field a new F1 team starting in 2024. His entry, Andretti Global, has the resources and checks every box. He is awaiting the FIA’s determination.
Michael has applied to the FIA to field a new F1 team starting in 2024. His entry, Andretti Global, has the resources and checks every box. He is awaiting the FIA’s determination.
Several other teams have expressed similar concerns regarding the entry of new teams to the sport.
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