Various automobile manufacturers have expressed interest in entering F1 ahead of the regulation changes that are slated to be implemented in the 2026 season, despite the sport’s tremendous surge in popularity.
F1 has seen a huge growth in terms of fans, viewership, engagement, and ticket sales with the debut of the Netflix docu-series “Drive to Survive,” making it a very appealing sport to be a part of.
According to Auto Motor and Sport, F1 CEO Stefano Domenicali has stated that several manufacturers have indicated an interest in joining the sport as new teams, with Ford, Honda, Hyundai, and Porsche being the most prominent.
All four manufacturers are major participants in the automobile industry, with distinct aims in mind when it comes to potentially entering the sport.
According to FanNation, Ford will seek a financial and marketing partnership with Red Bull Racing, while Hyundai is anticipated to investigate the “feasibility of an engine program” with a 2027 entrance date.
Cyril Abiteboul, the former Renault F1 team principal, has joined the Korean team Hyundai Motorsport as team boss, though little is known about the manufacturer’s plans to join F1. Regardless, their participation in the sport will be “considered seriously,” according to sources.
Andretti is also making a concerted effort to enter the sport as soon as 2024 and is currently in serious talks with the FIA to make this a reality.
Mercedes CEO is concerned that new F1 teams will ‘dilute the value of the sport
Toto Wolff, the CEO of Mercedes, has a strong opinion about the possibility of new F1 teams entering the sport. He believes that as long as a new team can guarantee that it will generate more revenue than existing teams, no one will object to the prospect. However, Wolff believes that the chances of a new team simply diluting the revenues of the sport’s existing ten teams remain high.
According to Planet F1, Wolff stated during the Miami Grand Prix in May 2022:
“How can you demonstrate that you’re bringing in more money than it’s actually costing if a team comes in?” Because the 11th team means a 10% dilution for everyone else. So, if one is able to demonstrate that, we should all sit at the table and applaud such an entry.”
Several other teams have expressed similar reservations about new teams entering the sport.
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