Formula 1 teams are naming their price for how much it will take to welcome an 11th team.
While the FIA, F1’s governing body, has a $200 million entry fee to offset revenue and prize money dilution from another team entering, that has not swayed most teams into supporting an additional contender.
Instead, teams are looking for at least $600 million, per Motorsport.
One source said that that is the lowest figure they have heard, and some teams are pushing for more. The current FIA rules apply through 2025, but some teams are pushing for them to be amended earlier to increase the entry fee.
The current top contender to join F1 is a joint bid from Andretti Global and Cadillac. The group has a deal in place with Renault to supply its engines if the bid is successful.
Red Bull principal Christian Horner has suggested that Andretti could buy an existing team instead of starting a new one, and Horner may help put one on the market.
The team is reportedly considering a sale of AlphaTauri. The team could also relocate AlphaTauri to England, which could ease certain logistical challenges.
Should its bid to enter F1 prove challenging, Andretti, which sought to purchase Sauber in 2021, could pivot to AlphaTauri.