According to James Vowles, F1 teams are losing too much money to accept an 11th team
The question of an 11th team is a subject of debate in F1. The teams do not want to see an additional team in order to avoid dividing the revenue into 11.
Formula 1 teams cost about 1 billion euros. Several teams had refused to sell, such as Williams. Some companies, like Andretti, want to become the 11th team in the paddock.
Currently, the ten teams present on the grid are opposed to the entry of an 11th team in Formula 1. The main reason is financial: the teams do not want to divide the revenues generated by the F1 season.
In order for an 11th team to enter the F1 paddock, Liberty Media, the organization that manages the operation of the pinnacle of motorsport, could potentially pay more so that the already present teams can equally bear the financial burden, alongside the existing teams.
The enthusiasm for F1 is being felt and this is good news for James Vowles. However, according to the director of the Williams team, a new team is needed to increase the earnings generated by Formula 1.
« It is a sign of the good health of the sport that we have so much interest in expanding the initial training from today. This is definitely worth mentioning and there is nothing wrong with it, but if there is a new team, it must be able to make the most of the pot. Currently, most teams are losing money if you look at the » revenues, says the team manager.
The objective for F1 teams is to return to positive gains.
« This is the result today, and we need to ensure that the pot keeps growing. And I salute all those who continue to make the pot bigger, it’s as simple as that. We would all have a bigger cake and a bigger slice of the cake. And in a certain way, it makes sense » continues the former Mercedes member.
The 44-year-old man wishes to see a team bought rather than integrating 11 teams in the upcoming seasons.
« There is also the option and possibility of buying one of the existing teams, which already exists on paper. From our point of view, this would be very welcome. We just have to make sure that the budget is sufficiently expanded for it to make sense,” asserts the director of the Williams team.
