08/11/2022
NEWS STORY
Seemingly adamant that Andretti cannot gain admission to the club, F1 CEO, Stefano Domenicali insists that the sport is still willing to talk to potential new teams.
As was witnessed at the weekend, F1, under Liberty Media, likes something to celebrate, a reason to party.
Indeed, all the big guns were present at the start of the Belgian Grand Prix weekend - the Friday, the day that they'd previously been telling us was a waste of time - to officially announce Audi's entry to the world championship in 2026.
As the new entry was announced, such was the enthusiasm of (F1 CEO) Stefano Domenicali and (FIA President) Mohammed ben Sulayem to announce the new entry that Audi representatives could barely get a word in.
However, in terms of Michael Andretti there is no such enthusiasm, rather a deafening silence, and just in case the American isn't getting the (subliminal) message, Domenicali admits that the sport is still opening to welcoming a new team, it just has to be the right team.
Those already in the club, including those that have seemingly been hanging on by their fingernails, are keen to pull up the drawbridge behind them, fearing that any newcomer will "dilute" the potential rewards on offer as the Netflix boom continues.
Nonetheless, Domenicali insists he is still willing to talk should the right prospect come along.
"With regard to the value or process related to the possibility of an F1 team to be (entered) into the championship, of course that is the primary step both us and the FIA have to be in agreement for that," he told financial analysts following the announcement of the third quarter financial results.
"I think the first thing we need to consider is whether this eventual possibility will bring extra value to the championship," he added. "If so, of course, we will discuss it internally. We will see if it is any kind of real potential for a new entry to give the benefit for the value of the championship.
"On top of it, there is a value that has to be recognised to the teams that are already in the championship," he admitted, "because of course they cannot allow any dilution of their financial partnership with the F1 championship. This is what is written in the Concorde Agreement.
"Mainly, the point is that eventually a new entry will bring a better position for the F1 championship. This is really an integral value in terms of value from the financial point of view and in terms of value from the sporting point of view.
"It is not a problem to do, I think, one more team to have better racing. Therefore, we will see, we will monitor the situation. It would (need to) be a real credible new entry that wants to discuss with us. We are ready to discuss, but we are not in a rushed position today for that."
While Audi is buying a significant stake in Sauber - a route that Andretti took but which failed - having ended talks with Red Bull, Porsche is understood to be keen to similarly buy into Williams.
It is essentially a franchise system in all but name.