Wolff doesn't want to share prize money with Andretti - Yet

Michael Andretti wants to enter with his own Formula 1 team in 2024 under the name Andretti Global, but according to Toto Wolff, he needs to prove himself first. The Mercedes team boss believes that the Andretti organization has not yet shown why other teams should welcome its arrival.

During the weekend of the Miami Grand Prix, Andretti was seen in the company of several team bosses, seemingly in an attempt to get them to sign a document declaring their support for his team's arrival.

Wolff won't share prize money

However, not all teams are enthusiastic about the idea, including thus Toto Wolff. "If we have a true American team with an American driver, that would be very beneficial," he explains according to The Race. "But we have ten entries and the prize money is divided among those ten entries."

Over the past decade, teams have invested significant sums in the sport, over a billion if Wolff is to be believed. So a new team has to add something, rather than take ten percent away from other teams. "If one is able to demonstrate that, then we should all be sitting at the table and cheering for such an entry," Wolff said.