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,”...
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