Steiner: Haas Wouldn’t Be In F1 If It Had To Pay $200mn Entr

[verstappening422]

Guenther steiner has said Haas wouldnt have been able to enter F1 if it had to pay the $200million fee according to Formula 1 News. So surely this means its bad for the sport? imagine only having 9 teams on the grid now... nomore will join for a long time unless they abolish this rule.

[Teddy Lop]

verstappening422 said:

Guenther steiner has said Haas wouldnt have been able to enter F1 if it had to pay the $200million fee according to Formula 1 News. So surely this means its bad for the sport? imagine only having 9 teams on the grid now... nomore will join for a long time unless they abolish this rule.

I heard formula1news.co.uk will publish any old tosh.

[Nampahc Niloc]

It’s part of the Concorde agreement, there’s no abolishing it, and the teams wouldn’t want too. It makes them much more valuable, as buying a team is much better value then having to pay the entrance fee.

[Europa Jon]

On the subject, I can't be the only one to remember when 26 cars were on the grid, plus other cars that failed to qualify at each race. 20 cars on the start line has been the norm for a while now. I hope the FIA have seriously wondered what went wrong since the number of teams diminished. Perhaps it's all down to money to buy the required tech, R&D and drivers these days.

[StevieBee]

Europa Jon said:

On the subject, I can't be the only one to remember when 26 cars were on the grid, plus other cars that failed to qualify at each race. 20 cars on the start line has been the norm for a while now. I hope the FIA have seriously wondered what went wrong since the number of teams diminished. Perhaps it's all down to money to buy the required tech, R&D and drivers these days.

It got to the stage that required 'pre-qualifying' such were the number of teams. Until as recently as the mid 90s, you sometimes had smaller teams working in makeshift garages because they didn't have enough for all the teams that turned up. Most of these smaller teams were only there for the share of TV and start money and the future increases in this that were promised (another story entirely). On the rare occasion that they did get to race, they'd be lapped in five laps.

The entry deposit was designed to sift these out and improve the breed. On the whole, I think it's succeeded.

Unless there's small print I'm not aware of, it's highly unlikely that any team or individual would write out a cheque for $200m. It's most likely borrowed or escrowed so the only liability off the bottom line would be the interest - unless the team bailed out, but that's sort of the point of the deposit in the first place.

It would be nice to have a couple more teams, if only to give a wider pool of drivers an opportunity but from a racing perspective, I don't think it makes much of a difference.

[verstappening422]

Teddy Lop said:

I heard formula1news.co.uk will publish any old tosh.

what do you mean? It's an interview with Guenther speaking

[verstappening422]

Nampahc Niloc said:

It’s part of the Concorde agreement, there’s no abolishing it, and the teams wouldn’t want too. It makes them much more valuable, as buying a team is much better value then having to pay the entrance fee.

so do you think theres anychance more teams can join tho?

[FourWheelDrift]

StevieBee said:

It got to the stage that required 'pre-qualifying' such were the number of teams. Until as recently as the mid 90s, you sometimes had smaller teams working in makeshift garages because they didn't have enough for all the teams that turned up.

good example here, Osella F1 team, Kyalami 1982. 17 teams that year.

[The_Nugget]

FourWheelDrift said:

good example here, Osella F1 team, Kyalami 1982. 17 teams that year.

Do you think those shorts are flame retardant?

[FourWheelDrift]

It's ok they're wearing safety perms.

[rscott]

verstappening422 said:

Guenther steiner has said Haas wouldnt have been able to enter F1 if it had to pay the $200million fee according to Formula 1 News. So surely this means its bad for the sport? imagine only having 9 teams on the grid now... nomore will join for a long time unless they abolish this rule.

I notice you left out the sub-heading on the article: "Steiner said the $200 million entry fee is nevertheless beneficial for Formula One"

[thegreenhell]

rscott said:

I notice you left out the sub-heading on the article: "Steiner said the $200 million entry fee is nevertheless beneficial for Formula One"

If you read the article he never actually said that. He said it's good for the existing teams. Being "beneficial for Formula One" are the author's words, not Steiner's.

[TheDeuce]

Surely raising the entry price ever higher simply ensures any team that crashes with liabilities will find a willing buyer? Seems sensible to me. Basically means that even a collapsed team is something of a bargain for the next ambitious billionaire to scoop up and have a go. So long as it's considerably cheaper to buy a team than enter a new one, the current (crucial) ten teams are relatively safe and will remain in the sport and operational as a new buyer will always be found to reset their finances.

See Williams for details. They were not bought for $200m. Not even $100m taking in to account the assets that came with the deal.

[Pericoloso]

TheDeuce said:

See Williams for details. They were not bought for $200m. Not even $100m taking in to account the assets that came with the deal.

What's a D Ticktum worth ?....asset or liability ?....