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F1 | Steiner anticipates $200m dilution fund to be changed in the future

Guenther Steiner says F1's current dilution fund could be changed in the future to reflect F1's current commercial growth 

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F1 | Steiner anticipates $200m dilution fund to be changed in the future
Fuente imagen: @HaasF1Team

Haas F1 team principal Guenther Steiner anticipates a change to the $200m F1 dilution fund in the future to reflect the increasing value of teams.

Formula 1 is currently attracting interest from American outfit Andretti Autosport as a potential 11th team in the near future.

But many F1 teams have concerns over the financial impact of an 11th entry as Andretti’s plan have been met with a mixed reaction in the paddock.

Under the terms of the Concorde Agreement agreed by teams in 2020, any new entry must pay a $200m dilution fee. This is intended to offset the loss in revenue caused by splitting the prize money between 11 teams instead of 10.

Steiner wants F1 to stick with the current 10-team grid due to the stability and health of all the operations.

“You've got 10 very good teams or good teams, they're all stable,” Steiner said in Canada last week. “Why should we change something if it works like this? At the moment, we are in a good place.”

Steiner was asked by motorsport.com if he believed the dilution fund proposal worked, the Austrian felt it had to be adjusted to suit F1’s current commercial growth since the Concorde Agreement was agreed in 2020.

“The dilution fund was set a few years ago, when the value of Formula 1 was different,” Steiner said.

“I think one of the things will be, should we readjust it to current market rate, which is a lot more than that one? But I think that's a very difficult process to do.

“But if you're really honest, and you look at when we signed the contract in 2020, teams were going for a lot less money than these days.

“The sport has made a big progression in value. So at some stage it will be adjusted, but I don't think that is the biggest issue.”

Andretti were very close to a takeover of the Sauber Group which currently runs the Alfa Romeo team only for the deal to fall through.

F1 CEO and President Stefano Domenicali said that he thought 10 teams was correct for Formula 1 and any new entry would have to be “really significant.”

“Today, it’s not a problem of having more teams, because we have a list,” Domenicali said.

“Some of them are more vocal than the others, but we have a lot of people or a lot of investors who would like to be in Formula 1. But we need to protect the teams. This is really another sign of a very healthy system.”

 

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