Stefano Domenicali aims to expand the F1 grid to 12 teams

Domenicali's vision is to grow the F1 grid to 12 teams, boosting the competition and potentially increasing the entry fee to a staggering $1 billion.

Stefano_Domenicali.jpg

Formula 1 undeniably has its sights set on its future prospects. The Concorde Agreement serves as a crucial treaty that governs the commercial arrangements between teams, F1, and FIA, encompassing various regulatory and budgetary limitations. In order to safeguard privacy, it is customary to maintain the confidentiality of a report that delineates the regulatory and governing elements of the sport. Amidst the first devastating wave of the COVID-19 pandemic in 2020, the seventh edition of the Concorde Agreement was ratified and is now actively operational. It was decided to implement a more stringent budget limit, while also postponing the implementation of the new technical regulations by one year.

F1_Chase_Carey.jpg

The unified efforts of the teams, the FIA, and Liberty Media, led by Chase Carey, transformed a potentially detrimental situation for the sport, particularly for smaller teams, into a propitious opportunity to fortify its standing and broaden its reach. Ferrari is the only notable constructor that has remained in Formula One over the years. Unfortunately, the teams failed due mostly to the enormous expense of competing at the top level of motorsport, which resulted in an expensive financial mistake. In addition to serving commercial purposes, Formula 1 also ensures its economic viability. Domenicali's presence on the grid is catching the interest of big players who aspire to team up with him and join the competition. This occurrence cannot be simply dismissed as a coincidence.

F1_Audi2.jpg

But it is obvious that not everyone can fit. Audi's visionary move involved harnessing the invaluable wealth of knowledge and expertise of the iconic Sauber team to propel them forward into the future. To ensure a successful launch in 2026, the German corporation intends to make significant financial commitments. In order for the German cooperation to remain competitive, it is imperative that they intensify their endeavors in the development of a new power unit, considering the strong foothold of their competitors in the market. In the near future, Domenicali envisions a grid consisting of 12 F1 teams. Engaging in conversations is a clear indication that the competition has commenced. Even though the world has been in turmoil due to the pandemic for over a year and a half, it seems that none of the teams are willing to make concessions when it comes to their shares.

Ferrari and other top-tier teams are enthusiastically welcoming new teams. The new price will easily exceed the current $200 million by a substantial margin. A staggering amount of money, around one billion dollars, is reportedly set to be distributed. Gunther Steiner revealed that there are currently ongoing and highly productive discussions regarding the new agreement. He emphasized the urgent need for a prompt resolution, as all parties will reap greater benefits from its timely conclusion. Although Alfa Romeo is likely to end its partnership with Sauber, reports suggest that the automaker will continue to participate in Formula One as the primary sponsor of Haas, beginning in 2024.

Comments