News Details
Entry fee to safeguard Formula 1 and create investment opportunities
Haas team principal Guenther Steiner believes the $200 million fee implemented for new teams to join the Formula 1 grid will safeguard the sport as it "incentivises people to buy a team that is there." The payment seeks to ward off teams who are financially unstable, meaning a repeat of the demise of the USF1 team, for example, would be effectively impossible. Article continues under video The news was broken by McLaren CEO Zak Brown ahead of the Tuscan Grand Prix and Steiner believes it will sway people towards buying an existing team rather than forming a new outfit. "Zak is the spokesman of FOM now," Steiner joked. "I will send a text to him later to...
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3y ago from GPFans.com
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