I have ordered my FIA team to look at starting an Expressions of Interest process for potential new teams for the FIA F1 World Championship.
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Since the Manor team’s demise at the conclusion of the 2016 season, the F1 grid has been down to 10 teams, but in that time the league has experienced a substantial commercial boom. It has caused a number of parties to publicly declare their desire to join the F1 grid, with Michael Andretti’s Andretti Global being the most famous. The grid is currently set at 10 teams, and the FIA has not yet publicly indicated that it intends to consider evaluating possible new teams through a tender process.
However, FIA President Mohammed Ben Sulayem confirmed he was speaking with his staff about beginning the process to let new teams to the grid in a tweet posted on Monday from his official account. In the tweet, it was said that “I have ordered my FIA team to look at starting an Expressions of Interest process for potential new teams for the FIA F1 World Championship.” An interested party like Andretti would eventually be able to join the F1 grid thanks to the beginning of a formal process, but there would still be a number of obstacles to overcome.
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Andretti’s attempts to join the grid have so far run into resistance from many of the current teams who think it would be advantageous for F1 as a whole commercially. Only McLaren and Alpine have openly endorsed Andretti’s initiatives. The teams have divided the prize money from F1’s revenue into 10 equal portions under the Concorde Agreement that was signed in 2020, therefore the inclusion of an 11th team can result in a smaller share for them. To counteract this, the Concorde Agreement included a dilution fund that mandated any new grid entrant pay $200 million to join, which would be divided among the other teams.
