“It’s Greed!”: Former Team Boss Slams F1 for $700,000,000 Insult That Is Keeping Andretti From Realizing His F1 Dream

The F1 world is as much about the money as it is about the on-track performance. They are also directly proportional – More the money, Better the performance, to an extent. But the introduction of a new team means that the share of prize money for each team goes down. Michael Andretti is facing the same resistance from other teams reluctant to part with their prize money. Sympathizing with Andretti, Eddie Jordan, the owner of the former Jordan F1 team, bashed F1’s piranha club.

Initially, the cost for a new team to enter was decided to be $200 million. But post Andretti finalized his deal with Cadillac and the news broke, the teams pushed for an entry fee more than $200 million as the entry fee. Eventually, it has probably rose to $700 million, as more teams resisted the change.

David Coulthard and Eddie Jordan discussed this Andretti saga on their podcast Formula for Success. Regarding the Andretti subject, Coulthard asked their guest Paul Jordan if F1 has gone soft as a sport, with only 10 teams. In addition to this, the team owners are reluctant to let any other team enter the league.

In reply to this, Paul Jordan said, “I think it makes for better racing. If you’ve got a knockout formula or whatever they decide to come up with. But from the teams’ perspectives, obviously dilutes what they are gonna get at the end of the year. I would love to see two more teams on the grid.”

Though Eddie Jordan sympathizes with the current teams, he said, “I hate to use the word, but it’s greed.” The former Jordan team owner backed Andretti’s case while slamming F1’s insane $700 million entry barriers. He said, “But I just fear that we need another new team. Andretti could have been very good, and I really think they should’ve got a chance. They have got history, they have got a name.”

Read More: Amid Struggles With Massive $700,000,000 Headache, Lewis Hamilton & Co. Hand Thumping Defeat to Andretti After Brutal Penalty

Eddie also spoke about how, like soccer, F1 should have relegations and promotions so that more teams can fight it out for the championship. This would give Andretti a chance to compete at the highest level.

Michael Andretti and the Never-Ending F1 Entry Drama

All Michael Andretti wants is for his team to get a chance in F1. But as the days pass, the goal seems farther than ever. The official process of new teams applying to be on the F1 grid started back in February this year. The scheduled deadline of finalizing new teams for 2026 was supposed to be in June & July. Although, for Andretti & every other F1 aspirant team, things have gone on the back burner for no reason known.

Is the money aspect such a big issue for the existing teams? Few would know. Regardless, F1 CEO Stefano Domenicali said that teams are rejecting takeover offers valued at over 1 billion dollars. On F1’s ‘Beyond the Grid’ podcast, he also said, “I think that 10 teams are more than enough to create a show for the business and the attention that we want to see on the track.”

For now, Michael Andretti’s plans remain a distant dream as F1 is probably closing its doors to new competitors.

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