Date published: December 17 2019
As Formula 1 looks to grow the grid, Chase Carey says the sport must avoid treating newcomers as “second class citizens”.
Although F1 and the FIA have made attempts in recent years to add an 11th team to the grid, the last outfit to join was Haas back in 2016.
There has been interest from others, such as Campos, but nothing has come to fruition.
Carey, F1’s CEO, believes this is in part due to the F1’s prize money structure which sees only the top ten teams from the previous two seasons receive money from Column 1.
That meant Haas didn’t receive any of that cash until last year.
“If you come in, you should be part of the part of the sport, and not a second class citizen,” Carey explained to Autosport.
“To come in as a second class citizen, I think that’s a deterrent.
“Once they commit to come in, [it is to] buy into a good business not just a great sport.
“If I’m coming in, if I wasn’t committing as a first class citizen, as a part of the club, then it’s a deterrent.”
Formula 1’s prize money structuring will be revised ahead of the 2021 season with Carey determined to ensure that F1 becomes a “healthier business model” for all the teams on the grid.
“Most of the people I’ve had preliminary conversations with want to see rules in place that provide the framework for a healthier business model,” said Carey.
“A fair level, or what they consider a fair level, of prize money distribution, and some disciplines and the cost that again make it more about how well you spend your money, not how much you spend.
“We want owning a team, like in other sports, to have franchise value.
“How do we make owning a team something that is a good business proposition and not just a pursuit of passion?”