News Details

New F1 teams face $200 million hurdle

New F1 teams face a new financial hurdle Prospective teams looking to enter Formula 1 will face a hefty financial barrier as part of the new Concorde Agreement. Signed by all current teams late last month, the Concorde Agreement lays out the commercial relationship between them and the sport’s rights holders. Changes to the latest iteration of that agreement have seen a significant shift, with a more even distribution of prize money among teams. Included in the agreement is a mechanism to safeguard that income, with new teams having to fork out $200 million before taking their place on the grid. “What the $200 million is intended to do is to protect the value of existing teams,”...
Full Story »
1mo ago from SpeedCafe.com 0
Share

You May Also Be Interested In...

McLaren hangs asking price of 200 million pound to...

The head office of McLaren is put up for sale. The team from Woking will...
1mo ago from GPBlog.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...
1mo ago from MotorsportWeek.com

Brown confirms $200m fee for new Formula 1 teams

McLaren CEO Zak Brown has confirmed teams wishing to join the Formula 1...
1mo ago from GPFans.com

Mercedes spent $442 million in 2019

Formula One champions Mercedes spent 333 million pounds ($442 million) in...
1mo ago from espnF1.com

Elsewhere On The Network

Popular On MGPToday.com

Miller: 'Pretty cool' if Mir takes MotoGP title...

Eight different riders have won MotoGP races so far this season but world...
1h ago from Crash.net

Vinales: Very tough to win title, Suzuki another level

When MotoGP champion Marc Marquez's title defence was ruined by a broken...
58m ago from Crash.net

Dovizioso negotiating with Yamaha over MotoGP test...

Andrea Dovizioso could return to the Yamaha fold in 2021 as its official...
16h ago from AutoSport.com

Popular On IndyCarToday.com

IndyCar field takes shape for 2021

The 2021 IndyCar Series field continues to take shape with Chip Ganassi...
7h ago from SpeedCafe.com

DragonSpeed to close down IndyCar program

DragonSpeed will discontinue its involvement in the NTT IndyCar Series due...

GALLERY: McLaughlin's first IndyCar test at...

Take a look at Scott McLaughlin’s first flying laps of the Indianapolis...
7h ago from SpeedCafe.com

Ganassi and Ericsson sign multi-year extension

Chip Ganassi Racing has announced that it will retain Marcus Ericsson...
17h ago from MotorsportWeek.c...

Popular On TotalWRC.com

Hyundai clinch maiden WRC Manufacturers’ Title

"Hyundai Motorsport is celebrating its maiden World Rally...
6d ago from EuroSport.com

Neuville continues to build Rally Portugal lead

"Hyundaiu0027s Thierry Neuville extended his overall Rally Portugal...
6d ago from EuroSport.com

Neuville signs three-year contract extension with...

"Rally world championship leader Thierry Neuville has signed a...
6d ago from EuroSport.com

Neuville closing on new Hyundai contract

"World Rally Championship leader Thierry Neuville is understood to be...
6d ago from EuroSport.com

Popular On GunnersToday.com

Arsenal's Shkodran Mustafi lifts lid on Mesut Ozil...

Arsenal star Shkodran Mustafi has given fans an outlook on how Mesut Ozil...
47m ago from DailyStar.co.uk

Arsenal boss Mikel Arteta expresses William Saliba...

Mikel Arteta has admitted he regrets the decision to leave William Saliba...
47m ago from Express.co.uk

Arsenal team news: Expected 3-4-3 for Dundalk clash -...

Arsenal boss Mikel Arteta will be looking for a reaction from his side in...
1h ago from Express.co.uk

Thursday's Arsenal transfer talk news roundup: Dayot...

The summer transfer window has now closed, with Arsenal pulling off one...
37m ago from SportsMole.co.uk

Comments

Hottest News

Recent News


2014 GPToday.com
GPToday.com is not responsible for the news headlines and associated descriptions and images it indexes, the content of externally linked sites or the comments & postings of its users.

This website is unofficial and is not associated in any way with the Formula One group of companies. F1, FORMULA ONE, FORMULA 1, FIA FORMULA ONE WORLD CHAMPIONSHIP, GRAND PRIX and related marks are trade marks of Formula One Licensing B.V.