F1 CEO: "Key goal" to attract new teams to Formula 1

15-03-2019 16:12
by Nicolás Quarles van Ufford
F1 CEO: Key goal to attract new teams to Formula 1

FOM (Formula One Management) CEO Chase Carey has revealed F1 has been approached by multiple companies who would be interested in being a new entrant to the sport, but the American does underline that keeping current teams happy is as important as luring in new ones.

F1 has had 10 teams in recent memory, but that certainly isn't the limit for the number of teams - Liberty Media have actually tried quite hard to get new teams to join the sport.

“One of our strategic goals is we want to make the sport more attractive potentially with entrants,” the American said at his press conference in Melbourne. “I think that’s a key goal we have."

Currently, a lot of interested parties struggle to enter F1 because of the incredibly high financial barrier. In 2021, when the regulations will be revamped, it can be the perfect opportunity for Liberty Media to change the rules in order to attract new competitors.

“It is certainly a goal in the 2021 regulations. I think we’ve got to solidify those regulations to have those discussions.

“Actually I have had a number – more on the teams side than the engines side – of potential new entrants that expressed interest and enthusiasm if we provide a structure that they think enables it to be something that they could enter more constructively. I do think there’s actually interest on the teams side but I think we have to finalise what it looks like so they can evaluate accordingly.”

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