New Players Must Now Pay $200 Million In Reparations To Existing Teams To Join Formula 1

At this point, everyone is aware that it costs millions of dollars just to contest a Formula One season, but a new rule under the recently signed Concorde Agreement dictates that incoming teams will need to pay an extra fee on top of everything else if they want to join the series. And that extra fee comes in at a whopping $200 million.

Haas team principal Guenther Steiner noted the fee in an interview with RACER, but it was Zak Brown from McLaren who confirmed the final number.

PUGPROUD - 9/14/2020 11:51:49 AM

+1 Boost

Welcome top the club!

F1_Driver - 9/14/2020 1:22:34 PM

+2 Boost

Formula One is obsolete. Formula E is where the action is at.

Foncool - 9/15/2020 8:41:14 AM

-1 Boost

Formula E is filed under “if a tree falls in the forest and no one is there to hear it, does it make a sound?”

MDarringer - 9/14/2020 9:17:35 PM

+1 Boost

1. F1 is NASCAR for the white wine crowd
2. That's fascist socialists for you.

CANADIANCOMMENTS - 9/14/2020 10:38:06 PM

+1 Boost

At least you can join. Vs some vote that the other teams are allowed to take and keep you out of the club like in the NHL etc. Fees like this are not uncommon and it is funny F1 took so long to copy other sports.

MDarringer - 9/15/2020 9:01:12 AM

0 Boost

So the Canadian is in favor of extortion. Quelle surprise

Foncool - 9/15/2020 8:38:35 AM

0 Boost

Wonder how that applies if you buy an existing team, is it grandfathered in?