NO SERIOUS DISCUSSIONS ABOUT NEW F1 TEAMS

No serious discussions about new F1 teams – Photo: LAT

Two groups – one from Russia and one from Spain – have declared interest in fielded Formula 1 teams in 2021. But, for the moment, it is only “talk” because Liberty Media’s Formula 1 group has stated that it has not had any serious discussions with any prospective new teams.

By DAN KNUTSON

“Following publicity in recent days from several entities that have indicated their ambition to participate in the FIA Formula One World Championship from 2021, while Formula 1 appreciates their interest, we can confirm that there are no serious discussions with any persons or companies about the admission of a new team,” a statement from Formula 1 said.

One of the possibilities is a new Russian F1 team, which would be funded by Russian billionaire Boris Rotenberg who currently backs the SMP Racing operation that competes in Formula 2 and endurance racing.

The other is a Spanish F1 team fielded by the Monaco-based MIM Group. It has connections to the Campos Racing Team which competes in Formula 2.

The 2021 rules, which have yet to be finalised, should include an annual budget cap of US$150 million, which would make it more economically feasible for a new F1 team to compete.

“The team is now at an advanced stage of negotiations with current Formula One Teams and engine manufacturers to ensure the best possible partnership for a competitive Spanish Formula One Team from 2021 and onwards,” a MIM statement said.

Several meetings have been held with Formula One chairman Chase Carey and motorsport managing director Ross Brawn.

A number of teams have expressed interest in entering F1 in 2021, Brawn said, but he added: “What we’ve said to these teams is: let’s get these rules introduced, let’s stabilise the situation, let’s get everything working properly before we seek more teams. I think 10 healthy teams in Formula 1 is actually enough, and if we do get any extra teams they’ve got to really add to the show. We must remember the history. So many small teams came and went and didn’t really add to Formula 1.”

There was supposed to be a budget cap in 2010, and this led to three new teams entering F1: Lotus, Virgin and HRT. The latter had its roots in a new team created by Adrian Campos. All three of them eventually failed.

The only new team since then is Haas which entered in 2016. Haas has survived thanks to funding by owner and billionaire Gene Haas plus close technical partnerships with Ferrari and Dallara. But even Haas has been looking for sponsorship, which led to the deal this year with Rich Energy that fell apart last month.

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