F1 sees “no urgent need” to insert eleventh group as Andretti bids to be a part of grid

The president of Formulation one operator Liberty Media claims present ten groups are “locked in” to their areas on the grid and he is not organizing to boost their range.

Greg Maffei built the opinions as Mario Andretti and son Michael ongoing to foyer groups to help their initiatives to enter F1.

The previous newcomer to the grid was American group Haas in 2016. Rivals Manor collapsed at the commencing of 2017, leaving just ten groups on the grid.

Maffei explained the benefit of individuals groups has enhanced considering the fact that Liberty “created them as franchises” subsequent their takeover of F1.

“Historically there experienced been as numerous as fifteen or twenty groups on the grid,” he instructed Bloomberg. “It acquired down to ten correct when we entered the activity.

“Manor, which was the eleventh group, went into receivership in the United kingdom, went into individual bankruptcy and acquired bought for a pound.

“Now the base group, since they are all locked in as franchises, is worthy of $four hundred million minimal, perhaps a lot more. And I consider you are observing figures mentioned as considerably as $one billion for a group or $two billion for a group. That captivated expense, that captivated fascination.”

Maffei indicated any boost in the range of groups is not probable to transpire shortly. “There is a likely that we could boost the groups above time,” he explained. “I really don’t consider it is a urgent require.

“There are a ton of persons who would like us to do it. Most of them want to purchase in, but we have not we have not felt that require.”

He claimed including groups could current logistical issues at some venues. “In some scenarios are in fact challenges,” he explained.

“The paddocks, the garages, there is some areas that truly really don’t have a lot more than ten garages. So their obstacle is basically all over the the dynamics of placing an eleventh group on the keep track of.”

2022 F1 year

Search all 2022 F1 year content

Previous FP3: Perez tops last observe to show Purple Bull's exceptional tempo in Miami
Next Tactic, not luck, gained Williams’ factors finishes – Albon