Currently, Formula 1 is of interest to American racing brand Andretti Autosport as a potential 11th statement in the near future.

But Andretti’s plans were met with a warm reaction from most Formula One teams amid concerns about the financial impact caused by the addition of another team to the field.

Under the terms of the Concorde agreement agreed by the teams in 2020, any new entrant must pay $ 200 million, which is evenly divided between the existing outfits. This breeding fund is designed to compensate for the loss of income caused by the division of prize teams between 11 teams instead of 10.

Boss Haas F1 Steiner has made it clear that F1 should follow the current network of 10 teams because of the stability and health of all operations.

“You have 10 very good teams or good teams, they’re all stable,” Steiner said in Canada last week. “Why should we change something if it works that way? At the moment we are in a good place. “

Asked by Autosport whether the breeding fund’s proposal worked, Steiner said it needed to be adjusted in the future to reflect the commercial boom that F1 was receiving after the $ 200 million figure was agreed.

“The breeding fund was established a few years ago when the value of Formula 1 was different,” Steiner said.

“I think one of the things will be, should we adjust it to the current market rate, which is much higher than this? But I think it’s a very difficult process.

“But if you’re really honest and you look when we signed a contract in 2020, the teams were going for a lot less money than they are today.

Kevin Magnussen, Haas VF-22

Photo: Zak Mauger / Images of motorsport

“Sport has made great progress in price. So at some point it will be adjusted, but I don’t think it’s the biggest problem. “

Andretti was close to getting into Formula One last year through the takeover of a majority stake in Sauber Group, which manages Alpha Romeo‘s team, just to make the deal fail.

Due to the fact that none of the other teams are looking to sell, and their valuation is projected at nearly $ 1 billion in the coming years, many have focused on protecting the value of the current network and rewarding their investments.

In Monaco, CEO and president of Formula 1 Stefano Domenicali said that any new statement should be “really significant” and that, in his opinion, 10 teams – this is the correct number of the series.

“Today it is not a problem to have more teams because we have a list,” Domenicali said.

“Some are louder than others, but we have a lot of people or a lot of investors who would like to be in Formula One. But we have to defend the team. This is really another sign of a very healthy system. “

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