P1racenews AI automatic summary:
The FIA will make a final decision in a matter of weeks regarding Cadillac’s proposed entry to become an 11th Formula 1 team.
Racing Bulls CEO Peter Bayer emphasized that Formula 1 teams are not viewed as “greedy” with regard to Cadillac’s potential entry, as a crucial decision is pending. The Cadillac F1 team is gearing up to join the sport next year, initially as a Ferrari customer team before transitioning to a General Motors works outfit by 2028. The grid’s 11th team status is contingent upon the FIA’s final verdict following a tentative agreement with F1 in late 2024. While existing teams advocate for the new entry to bring value to F1, Bayer believes Cadillac’s participation aligns with this objective. However, the topic of an entry fee remains sensitive, as current teams seek clarity on potential financial implications for new entrants. Bayer refutes claims that teams oppose revenue sharing and underscores the importance of fairness in allocating prize money based on performance. The proposed $200 million anti-dilution fee, part of the 2026 Concorde Agreement discussions, aims to mitigate any financial impact on existing teams due to the inclusion of a new competitor. Bayer highlights the substantial investments made by current teams over the years, emphasizing the need for new entrants to acknowledge and respect that historical commitment.
