Wolff: Successful Andretti endeavor in F1 would need $1bn!

Mercedes boss Toto Wolff believes that a successful endeavor into F1 for a new outfit such as Andretti Global would require a massive $1 billion investment.

US team owner Michael Andretti confirmed last week that an effort was underway to bring the Andretti name back to Formula 1, and that an entry into the elite, possibly for as soon as 2024, is being sought.

However, F1's protectionist one-off $200 million entry fee is a pre-requisite for any new outfit that wishes to join the grid. But Andretti claims the hefty antidilution cost has already been provisioned.

But another barrier to entry for America's racing dynasty, one that could prove much more difficult to surmount, is the FIA and F1 teams' reluctance to accept a new member among its ranks, even with the prospect of each team receiving an equal portion of Andretti's $200 million entry fee.

However, if certain stringent conditions are met, and the potential new team adds value to F1's platform, it could be up for considerations says Wolff.

"Andretti is a [significant] name, for sure, and the American market is important," he said, speaking in Barcelona on Wednesday.

"Every team that is joining needs to add value. It’s not only by paying a $200m entry fee but it needs to demonstrate in my opinion what it can do for all the other teams and for Formula 1 and the FIA. Only then the sport will grow.

"We are the absolute pinnacle, this is the Champions League or the NFL. And redistributing franchises on the go is not how it should be. It’s not the intention of F1 and the FIA either.

"But if a real brand with good people, necessary funding, not only the $200m but probably you need more around $1bn if you want to play in this club straight from the get-go – then why not?"

• Read also: New Andretti F1 team 'not just a whim or bucket list thing'

Wolff's counter part at Red Bull, Christian Horner, echoed the Mercedes boss' view but underscored the protective criteria inscribed in F1's Concorde Agreement, the all-important covenant that commercially links the teams to Liberty Media, the sport's commercial rights holder.

"It’s great that there is the interest for people wanting to enter Formula 1," said Horner.

"The Andretti name is certainly a powerful name in motorsport. They’re not the only ones making noises about coming on.

"But there is a clear criteria through the Concorde Agreement that has to be met and approved. I’m sure they are engaged in that process.

"That agreement is there to protect the 10 incumbents and not to dilute that. So that would need to be carefully looked at."

McLaren F1 boss Andreas Seidl was openly enthusiastic about Andretti's initiative, insisting that a top US team present in F1 would only help the sport's growth in America.

From our side, we definitely would welcome the Andretti team because the Andretti name and a US team would help grow the sport further in the US,” said McLaren team principal Andreas Seidl.

"It would open up more possibilities to get more young drivers in, the more teams we have.

"And in the end the earlier we get to the maximum [number of teams] we can have, it will just help to drive the franchise value higher.

"Absolutely open for it. We’d love to compete with them."

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