News Details
New teams must pay F1 rivals $200m
Sep.13 New Formula 1 entrants will have to pay $200 million to the existing teams in order to enter the sport, according to a clause in the new Concorde Agreement. France's L'Equipe claims that the money would need to be evenly distributed to the ten teams - meaning a payment of $20 million per team currently on the grid. The report said the payment is to "ensure the seriousness of each new entrant", as it would compensate the existing teams for the dilution of the official prize-money pot. "What we are looking to do is avoid what we have experienced in the past," said McLaren supremo Zak Brown at Mugello. "USF1 announced its arrival and never made it to the...
Full Story »
Full Story »
3y ago from OneStopStrategy.com
0
You May Also Be Interested In...
New F1 teams required to pay $200m to rivals before...
Teams looking to join the Formula 1 grid will have to pay $200 million to...
3y ago from GrandPrix247.com
New teams will have to pay rivals $200m to join F1 grid
Any new teams looking to enter the FIA Formula 1 World Championship from...
3y ago from MotorsportWeek.com
McLaren hangs asking price of 200 million pound to...
The head office of McLaren is put up for sale. The team from Woking will...
3y ago from GPBlog.com
New F1 teams face $200 million hurdle
New F1 teams face a new financial hurdle Prospective teams looking to...
3y ago from SpeedCafe.com
Elsewhere On The Network
Popular On MGPToday.com
Pramac's Morbidelli still "missing freedom"...
No description available...
9h ago from Motorsport.com
F1 owner Liberty Media set to finalise purchase of...
Formula 1 owner Liberty Media are in talks to buy Madrid-based company...
14h ago from MotorsportWeek.c...
Oliveira frustrated by "baby steps" as 2024...
No description available...
15h ago from Motorsport.com
F1 owner Liberty Media set to finalise purchase of...
No description available...
1d ago from Motorsport.com
Popular On IndyCarToday.com
The good, bad, and ugly of IndyCar's half-baked...
No description available...
7h ago from Motorsport.com
Rasmussen, Siegel and Simpson complete oval rookie...
No description available...
1d ago from Motorsport.com
Rising concerns in IndyCar over PFC’s braking system
No description available...
2d ago from Motorsport.com
Rosenqvist: Confidence within MSR growing with every...
Felix Rosenqvist has started off his time with Meyer Shank Racing on a...
1d ago from MotorsportWeek.c...
Popular On TotalWRC.com
Kenya president pushing for longer WRC Safari Rally
No description available...
6h ago from Motorsport.com
How WRC Rally1 teams embraced the return of the...
No description available...
8h ago from Motorsport.com
Neuville pips Tänak in Safari opener
FIA World Rally Championship leader Thierry Neuville took a slender...
8h ago from MotorsportWeek.c...
WRC Safari Rally: Neuville edges Tanak to grab early...
No description available...
12h ago from Motorsport.com
Popular On GunnersToday.com
Key Manchester City duo miss first team training ahead...
No description available...
2h ago from SportsKeeda.com
Arsenal, Liverpool or Manchester City? Chris Sutton...
No description available...
2h ago from SportsKeeda.com
Crunch time: Easter games that have shaped the Premier...
the sharp end of the season fast approaches, here are four classic matches...
8h ago from TheGuardian.com
Arsenal 'suffer blow in pursuit of Paris Saint-Germain...
Arsenal reportedly suffer a blow in their pursuit of Paris Saint-Germain...
1h ago from SportsMole.co.uk
Comments
Hottest News
Vettel CONFIRMS F1 comeback and reveals what's holding it up
Ever since Lewis Hamilton made the shock... Read More »
6h ago from GPFans.com
Hamilton fired serious warning by Wolff as F1 star takes...
Mercedes boss Toto Wolff has shot Lewis Hamilton... Read More »
2h ago from GPFans.com
Top manufacturer takes HUGE step towards F1 return
A top manufacturer has taken a significant step... Read More »
12h ago from GPFans.com