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Steiner: Haas Wouldn’t Be In F1 If It Had To Pay $200mn Entry Fee

The new Concorde Agreement, which all F1 teams recently signed up to, stipulates that any new entrant must pay a $200 million fee to the ten existing Formula One constructors as part of measures to protect the value of the sport's franchises. This has prompted concerns that it will be almost impossible for new teams to join the F1 grid unless they purchase an existing outfit, but many people in the paddock believe this requirement is ultimately in the interests of the sport. READ: McLaren Defend Decision To Trial Mercedes-Inspired Nose Haas team principal Guenther Steiner has said in an interview with Formula1News.co.uk that the American racing outfit almost certainly wouldn’t have...
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