We said that the FIA has recently closed the acceptance of applications from potential teams for appearances in Formula 1 and has begun to study the documents received. It is believed that one new team will be given the right to speak, but the representative of the federation made it clear that there could be more new participants.
The Italian press reports that Formula 1 president Stefano Domenicali is negotiating a new agreement with the current teams, proposing to include a clause to increase the number of teams to twelve.
Many leaders of existing teams are skeptical of such an offer, not wanting to divide the prize money among a larger number of participants. However, Domenicali is proposing to increase the entry fee for new teams to offset the potential financial losses of existing teams, from the current $200 million to $1 billion.
Previously, Stefano Domenicali confirmed that the entry fee would be increased, but by April 2023 it was about $600 million. Apparently this amount did not suit the team and Domenicali had to raise the offer.
Source: F1 News
I am Christopher Clyde, an experienced journalist and content writer with a passion for sports. I have been writing about Formula 1 news for the past five years and am currently employed as an author at athletistic.com, one of the top sports websites in the US.
