President of the Federation International of Automobile (FIA), Mohammed Ben Sulayem is ready for the expansion of the Formula 1 grid by calling for Expressions of Interest from potential new teams.
The F1 grid has had 10 teams since the end of the 2016 season when Manor disbanded and the sport has enjoyed increased commercial success under the parent organisation, Liberty Media Corporation.
Some parties such as Andretti Global headed by motorsport enthusiast Michael Andretti have expressed their interest in joining the grid.
“I have asked my FIA team to look at launching an Expressions of Interest process for prospective new teams for the FIA F1 World Championship,” Ben Sulayem said in a Twitter post.
I have asked my @FIA team to look at launching an Expressions of Interest process for prospective new teams for the FIA @F1 World Championship
— Mohammed Ben Sulayem (@Ben_Sulayem) January 2, 2023
The prospect of an increased grid has received opposition from most teams because the entry of an 11th team would reduce the slice of revenue split 10 ways as per the 2020 Concord Agreement.
To ease those fears, however, a dilution fund was written into the Concorde Agreement that would require any new entrant to pay $200 million to join the grid, which would be split between the other teams.
