"It needs to be accretive" - F1 teams feel addition of an 11th team should not 'dilute' the sport's value

F1 team bosses have expressed their views on an additional team joining the grid in the future, with many believing that a new team might end up diluting their financial interests in the sport.

Former F1 driver and IndyCar team boss Michael Andretti is currently seeking to enter his team from the 2024 season after his previous bid to takeover the Sauber operation fell through at the eleventh hour.

Mercedes team principal Toto Wolff, one of the most prominent voices opposing Andretti’s entry, felt that any new team should be “accretive” to the sport rather than reducing the overall income of existing teams. Speaking at the FIA team principals’ press conference in Miami, he said:

“It needs to be accretive. If a team comes in, how can you demonstrate that you're bringing in more money than it's actually costing? Because the 11th team means a 10 per cent dilution for everybody else.”

Given that the existing F1 teams have spent billions of dollars over the last decade, Wolff felt that it would be unfair for their income share to decrease in the future just to accommodate a new player.

Red Bull team principal Christian Horner agreed with Wolff’s views on revenue sharing but felt that responsibility over whether to allow Andretti’s entry should ultimately lay with the sport’s commercial holder.

Revenue sharing was a huge factor in teams’ negotiations with FOM when the new Concorde agreement was signed in 2020. A new clause requiring any new entrants to pay $200 million to be shared among the existing teams was added to ensure new players are serious about the venture.

While Andretti has already indicated that he is ready to pay up the entry fee, most existing players are still reluctant about letting a newcomer into the paddock.

The only exceptions so far have been McLaren and Alpine, with the latter thought to be looking forward to supplying Andretti with its power units. McLaren CEO Zak Brown has been fiercely supportive of Andretti’s bid since the start. Countering fellow team principals’ claims of adding value, he said:

“The Andretti name has a huge history in Formula 1 and in various forms of motorsport, and I think would add a lot of value. A very credible racing team with a credible brand, with the right resources, I think is additive to the sport.”

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Andretti F1 bid gets support from IndyCar rival

Mike Hull, the managing director of Chip Ganassi Racing, has backed the Andretti F1 bid, saying that some with an “aptitude for racing” such as Michael Andretti shouldn’t be turned away. Speaking to The Race following the Miami GP, he said:

“Michael [Andretti] is a pure racer. He understands what racing is all about. He came from being a driver, he has an enormous aptitude for what it takes. And he will understand and learn how to race cars there. They should never turn somebody away that has that aptitude.”

“If they do, shame on them.”

Hull believes Andretti’s success in various categories might be “scaring” existing players. He blasted efforts from teams such as Mercedes to block Andretti’s entry and felt that any team that can add more to the sport shouldn’t be turned away.