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On Monday, the FIA President Muhammed Ben Sulayem had announced that the FIA had been mulling a first step to enable entrance of new Formula 1 teams, while Andretti, who had long been stepping up his lobbying effort for a new F1 team, has reportedly continued to push for entry. In the matter of the fact, latest remarks from Muhammed ben Sulayem came forth as Andretti has recently unveiled in an interview that he had ensured financing from a private equity firm having had a valuation worth over a whopping $285 billion. Nevertheless, Muhammed ben Sulyaem’s announcement has been the first major response from Fia to cement a pathway for Andretti’s entry into the Formula 1 with a new F1 team.
FIA take first major step for entrance of new Formula 1 teams
Nonetheless, several F1 officials had expressed pessimism over a new Formula 1 team adding that an eleventh team alongside twenty-two racers in the grid would impair the balance and harmony.
Apart from that, Formula 1 Chief Stefano Domenicali had told last year that an addition of another F1 team is not necessary to improve the sport. Nevertheless, if truth is to be told, even if FIA allow Andretti to join the Formula 1 with a new F1 team, the FIA had no regulations to increase their prizemoney which is disburses after every season according to F1 team’s position in constructors’ championship title race.
Amid such landscape, adding another team into the F1 would eventually trim the prizemoney for the existing Formula 1 teams, which could vindicate the hostility against a new team from other F1 principals who remain concerned and continued to resist the changes in prize money allocation.