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Panthera Team Asia: $200m entry fee not good news for us

During the Tuscan Grand Prix it was revealed that new Formula 1 entrants must pay $200 million to the current teams to join the grid, a situation that makes life more difficult for Panthera Team Asia, one of the projects that intends to join the series. The new Concorde Agreement, that was signed in the last few weeks, is designed to have a much fairer distribution of the commercial rights revenues, with the current teams’ income protected from new entries. The idea behind this is simple – if a new team enter in Formula 1, the revenue will have to be shared by more teams, so the income to each team will shrink. To make up for that lesser revenue, a new applicant will have to pay $200...
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4mo ago from GrandPrix247.com 0
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