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 »
Share

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...
5d 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...
5d 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...
1w ago from GPBlog.com

New F1 teams face $200 million hurdle

New F1 teams face a new financial hurdle Prospective teams looking to...
5d ago from SpeedCafe.com

Elsewhere On The Network

Popular On MGPToday.com

Moto3 Emilia Romagna - Free Practice (1) Results

Moto3 Emilia Romagna  - Free Practice (1) Results Pos Rider Nat Team...
24m ago from Crash.net

Emilia Romagna MotoGP - Friday LIVE!

Live updates from Friday's pair of MotoGP free practice sessions at the...
24m ago from Crash.net

Popular On IndyCarToday.com

Team Penske reveals McLaughlin livery for IndyCar debut

Team Penske has revealed the livery with which Scott McLaughlin will run...
7h ago from SpeedCafe.com

McLaughlin IndyCar debut confirmed

Scott McLaughlin will finally make his IndyCar Series debut on the streets...
11h ago from SpeedCafe.com

Popular On TotalWRC.com

PREVIEW: 2020 FIA World Rally Championship – Rally...

Sebastien Ogier won Rally Turkey last season. Can he repeat his victory in...

Tidemand Aims for WRC2 Victory in Turkey

2017 WRC2 champion Pontus Tidemand is currently sitting second in the...

Popular On GunnersToday.com

Arsenal agree five-year deal for Lyon midfielder...

Arsenal have reportedly already agreed terms with Houssem Aouar on a...
44m ago from SportsMole.co.uk

Contact made: Euro giants show interest in Arsenal ace...

Will Gunners green light an exit? The post Contact made: Euro giants show...
2h ago from CaughtOffside.com

Houssem Aouar 'bid prepared' after Arsenal offload...

An offer for Houssem Aouar will be made when Arsenal manage to offload...
3h ago from DailyStar.co.uk

Friday's Arsenal transfer talk news roundup: Houssem...

The summer transfer window has now begun, with rumours and speculation...
1h 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.