P1racenews AI automatic summary:
Team bosses wary of potential Andretti F1 entry
Earlier this year, the FIA started a formal process for new prospective teams to join Formula 1 in either 2025 or 2026. Andretti, backed by Cadillac, is currently the front-runner, but there are rumors that the FIA may approve their bid soon. However, the 10 current teams on the grid have the power to decide, and the general consensus seems to be negative. The current teams believe that the $200 million dilution fund for new teams, which was established in 2020, is now too small as the value of teams has skyrocketed with the sport’s popularity. McLaren and Alfa Romeo also agree with this sentiment. The teams want to protect their business and rely on the FIA and FOM to make the right decision. Haas team boss Guenther Steiner acknowledged the changing market in F1 and hopes that FOM will handle the situation in the best interest of the current teams. Both sides of the argument have valid points, and while new teams may find F1 appealing, there are still many obstacles for them to overcome.
Source: Motorsport Week
