Formula 1 management and teams have consistently opposed the entry of a new entrant into the championship, although Andretti Cadillac’s application has already received approval from the FIA. Ferrari boss Frederic Vasseur spoke of fears in Formula 1 that the emergence of an eleventh team would complicate the financial situation of the remaining participants.
Frederic Vasseur: “The championship is more vulnerable with eleven teams than with ten. Of course everyone is positive and optimistic as the company grows, but I am not sure that the current growth of Formula 1 will always remain this way.
There are issues that need to be addressed. At every meeting we talk about the need to increase spending. We include inflation in budget constraints, recalculate indicators, increase capital expenditures, and so on, and with the arrival of the eleventh team our revenues will decrease.
It’s not easy to run a business and make predictions when conditions change so often. The biggest problem is that we don’t learn from past experiences.”
Williams team boss James Vowles, like Frédéric Vasseur, fears that the entry of the Andretti team into Formula 1 will worsen the financial situation of the rest of the competitors: “It is not the case that there is no room in the championship for an eleventh team. The point is the need to ensure stable financing.
I appreciate that we are increasing our growth rate and moving closer to financial stability for the first time in history. Let’s get to this point and see where we stand. It’s not really a competition against the emergence of an eleventh team, but let’s grow where we can grow. I’m not sure that growth is possible today with the emergence of a new team.”
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.
