Formula 1 boss Stefano Domenicali said that because of the increased interest in the championship, some teams are getting offers worth nearly a billion dollars.
The FIA is currently studying the applications received from potential new teams, but Domenicali continues to believe that the current ten teams are sufficient for Formula 1.
Stefano Domenicali: “I want to emphasize that this is my opinion, but if we already have a good show, then 20 cars is more than enough.
If two riders are fighting for the title, then there is already a lot of attention for the championship. If the fight is between two teams or four cars, then it’s just incredible. Imagine all 20 cars taking part in an equal battle on the track – it will be impressive.
I want to clarify that I am not saying “no” to those who want to get into Formula 1. Sometimes it seems like I’m acting as a protectionist, but I’m not. I want to see the right competitor and at the same time respect the current teams that have already invested in Formula 1.
Now everyone wants to jump on the last car of a lightning fast train, but we have to stay careful and make the right decision. That’s what I’m trying to say.
We are currently evaluating the applications with the FIA to choose the right option for the future. This is also due to the signing of a new consent agreement, as the current one expires at the end of 2025. There is still a lot of time but the assessment has to be made now as we have already seen examples of new teams coming and going from Formula 1 with zero value. Now all teams are in a stable financial situation, are profitable and have the technical ability to be competitive on the track.
Therefore, in the coming months of discussions, we must find the right answer – leave ten teams in Formula 1, invite more participants or make an exception for only one, but very, very strong team that can join Formula 1. We will discuss all these topics.
The value of teams has increased in a short time. Two years ago, when we signed the new consent agreement, we indicated that a potential new member must pay a fee of 200 million. Such figures seemed unattainable, as there were examples in the recent past where teams were sold for one pound sterling.
However, now there are proposals on the market for the purchase of teams for almost a billion, but the teams reject these proposals. Can you imagine this?
Such numbers give an idea of what kind of ecosystem we are building. We are building a structure where dynamism matters and where the higher the value of the teams, the stronger our business platform.”
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.
