The big money trouble in Formula 1

The US project by Michael Andretti and GM subsidiary Cadillac is pushing for admission to the exclusive F1 club with the support of FIA boss Mohammed Ben Sulayem. But the majority of the ten current racing teams do not want to share the growing billion-dollar income with new entrants. The bosses of the racing series are also putting on the brakes and defending themselves against interference by the FIA.

In an unusual step, Ben Sulayem made his displeasure at the opposition from the premier motorsport class public via his private Twitter account. The head of the world association said he was “surprised by the negative reactions” to the plans of the former Formula 1 driver Andretti. The interest of large car manufacturers such as Cadillac parent General Motors in Formula 1 must be “encouraged,” demanded the top FIA official.

It's a lot of coal That should leave the F1 team bosses unimpressed. It's simply too much money. A newcomer would currently have to bring 200 million dollars (around 186 million euros) with them as compensation for the established teams. This is intended to mitigate the racing teams' losses if the marketing income is divided by eleven teams instead of the previous ten. 20 million dollars per team – that is apparently not enough for most people.

The value of the Formula 1 brand and the amount of income from rights sales and advertising contracts have recently increased massively thanks to the boom in the US market. Some industry experts therefore consider a compensation payment of at least $600 million to be appropriate. “Money will be an important factor in the end. It would be unfair to make other teams pay indirectly for the new additions,” said Red Bull team boss Christian Horner last year. “What do you bring to the show?” Mercedes team boss Toto Wolff on possible new additions Mercedes team boss Toto Wolff also referred to the German car manufacturer's massive investments and emphasized: “The value of Formula 1 is that there are a limited number of licensees. And we don't want to dilute that value by just adding teams." The question always arises with new additions: "What do you bring to the show?"

Andretti goes full throttle But Andretti doesn't want to be brushed off. His attempt to buy into the Sauber racing team failed in 2021. With General Motors, once the largest car manufacturer in the world, as a partner, the former McLaren driver and son of ex-world champion Mario Andretti now sees the path to Formula 1 paved. This could happen by 2026 at the latest with the new technology regulations; Andretti is even aiming for an earlier start. “I believe that 1.000 percent,” said the 60-year-old.

Michael Anretti (left, his father Mario right) wants to enter Formula 1 with General Motors. © APA/getty / GREGORY SHAMUS

Andretti sees all the requirements met and his project “clearly ahead of the competition”. His motorsport company is building a large new racing factory in the US state of Indiana. He has also already started recruiting staff with Formula 1 experience, said Andretti.

What position does the FIA take? The Formula 1 management's response to the ex-racing driver's pithy sayings remained cold. “We all want to ensure that the World Cup remains credible and stable. Every new potential applicant will be scrutinized to meet such requirements,” said the top of the racing series. Every new competitor not only needs the approval of the world association, but also of Formula 1, it said.

Only the Alpine and McLaren teams recently assured Andretti of their support for entry. Formula 1 managing director Stefano Domenicali is said to have displeased the fact that Andretti presented himself to all team bosses at the race in Miami and tried to persuade them to give written approval for his plans. That's not how you do business in the racing series, Domenicali signaled to the American, the BBC reported.

The fact that the FIA President is now taking Andretti's side could further deepen the rift between the world association and the racing series. Formula 1 is defending itself against the FIA's interference in day-to-day business and has long wanted to reduce the influence of the umbrella organization on important decisions. The conflict over the field of participants could become a catalyst for a violent rift.

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The big money trouble in Formula 1

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