Steiner sees 'no upsides' to new F1 teams: 'Just risks, no benefit'

Guenther Steiner believes Formula 1 does not need a new team, given the financial stability of the current teams. As such, the Haas team boss sees no benefit in the possible arrival of a new team like Michael Andretti's.

For now, Haas is the latest team to join the F1 grid through a new entry. The American racing stable debuted in 2016 with Romain Grosjean and Esteban Gutierrez behind the wheel. Back then, it was easier to join a new team, Steiner stressed. However, the latest version of the Concorde Agreement changed that.

The agreement laid down stricter rules to protect the current 10 teams on the grid. According to Steiner, this is not for nothing: "The ten teams which are here, they're all financially stable," he says in conversation with Sky Sports. "It's a very good environment at the moment, nobody is struggling."

Steiner fears that if an 11th team is added to the grid, there will be a dip in the sport's economy. "It is not for me to decide, it's for the FOM and FIA, because they're managing the business side of F1. But there is no upside at the moment for an 11th team to come for the other teams. There is just risk, no benefit," said the Haas team boss.