Starting in 2021 a new team will have to pay almost 170 million euros
Projects like Panthera have been slowed down by the FIA measure
Starting in 2021, any new team that wants to enter Formula 1 will have to pay an initial fee of 200 million dollars – 170 million euros – to do so, in a measure that will limit new formations. The most talked about of recent times, Panthera, has admitted that the new canon will not make things easier for them.
With the new regulatory change of 2022, or perhaps with the end of the current –and new– Concord Pact of 2025, some new teams would be interested in entering the premier category. However, a new limit will be found by the FIA and FOM, and that is that they will have to pay a fee of 170 million euros to do so, something that may limit projects that have already expressed interest such as Campos or above all, Panthera .
Benjamin Durand, co-founder of Panthera Team Asia has pointed out that he understands the reason for this measure and that it will be positive for F1 despite the fact that for his project it is not something especially hopeful.
“We kind of expected it. It is something that has been negotiated for a long time. But obviously it is not good news. But it really is not really ‘news’ because we already expected it. It makes things a little more difficult because it is easier to find 100 million than 300 “, Durand pointed out in words published by the British portal ..net.
Durand, along with Michael Orts, had calculated that they would have to spend between 80 and 120 million dollars to make their project a reality, and not the 200 that the FIA has now imposed. So the ‘simplest’ option would be to buy an existing team on the grid.
“All the options are on the table, but buying another team will be worth less than 200 million. That is what the purchase of Williams was worth from what I have heard and with that purchase all the facilities and others come,” Durand argued. .
“What I do not know is what equipment may be for sale right now and the question would be to convince the owners that we would increase the value of the equipment,” he added.
As its owners have admitted, the Panthera project had already changed its efforts to enter F1 from 2021 to 2022 with the delay of the new regulations and they have maintained that it continues to be so despite the new canon.
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