Zak Brown says the F1 Commission will discuss about raising entry fees of the new teams as he plays down any impact of ongoing F1/FIA issue.
After the last addition of a F1 team on the grid, the latest round has become a topic of debate among teams and the governing body. For long, several teams are looking to come in and the most notable figure has been Andretti who tagged along with Cadillac.
Few others have spoken about their possible entry but none more than Andretti. In the past, the $200 million entry fees has been talked upon which the F1 brought about so that there are no teams who fall short of putting up on the grid due to financial crunch.
This fees kept many from joining in but the growing nature of the sport has pushed some to pay the fees to enter. However, there is likely to be a discussion in the upcoming F1 Commission meet about raising the money considering the financial health of the sport.
McLaren CEO Brown is fine to have more teams on the grid but with the sport growing nicely, he stated that there will be discussions about increasing the entry fees but it will be down to the FIA and F1 to fix upon a fee which satisfies all the parties.
“I think we’re of the view that a 11th and or a 12th team, as long as they’re additive to the sport,I’ve always been focused on how can we make the pie bigger, less focused on how can I get a bigger piece of a pie that’s not growing,” said Brown in a media call. “And so as long as a new team is additive, helps us get better TV deals, helps bring awareness that drives more sponsorship, pays an appropriate franchise entry fee, that’s in line with what the value of Formula One is today, then we’re very supportive of having up to a 12 teams.
“I think it’s ultimately up to Formula One and the FIA to decide what they think those values are. But if all those boxes are ticked, then we’re very happy to welcome additional competition and growth of Formula One. As for the fees, I have not really spoken with other teams about it but it will be a topic of this upcoming FIA Commission meeting.
“We’ve been sent the agenda and new teams is a topic. I think it’s ultimately up to F1 and the FIA to decide what’s an appropriate fee. When we came up with the fee almost five years ago now, F1 was a totally different place. So I think they need to land on what they feel is appropriate. And it’s it’s good value for money, right?
“I mean, these these franchise are worth quite a bit of money. So it’s an investment, as opposed to a fee because these franchises, if not already worth billions certainly will be in the not too distant future like other major sports,” summed up Brown. Amid this new team discussion, there is also the topic of the tussle between F1 and FIA.
It seems like it has been sorted after it was cleared that Mohammed Ben Sulayem wont be involved in the day-to-day say of F1 matters with Nikolas Tombazis in charge. For now, Brown is not worried about the back forth between F1/FIA in recent times.
“I’m not concerned,” said Brown. “I was with Stefano recently and I think the FIA and F1 are on a good trajectory. Now we’ve got our next FIA commission meeting, Nicholas Tombazis is someone that I think everyone in Formula One is very comfortable working with, and has done an excellent job.
“And I think ultimately, we are very comfortable that the direction of Formula One because I do think the FIA and Formula One is working in what they feel is the best interest of the sport. So they’re both very well intended. Obviously, there’s there’s been some friction off late but that seems to me to have cooled down. And things are things are back on track. So ultimately not concerned,” summed up Brown.
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