{"id":348064,"date":"2023-08-09T09:17:42","date_gmt":"2023-08-09T04:17:42","guid":{"rendered":"https:\/\/leadpakistan.com.pk\/news\/?p=348064"},"modified":"2023-08-09T09:17:42","modified_gmt":"2023-08-09T04:17:42","slug":"fia-ready-to-start-process-for-new-teams","status":"publish","type":"post","link":"https:\/\/leadpakistan.com.pk\/news\/fia-ready-to-start-process-for-new-teams\/","title":{"rendered":"\u2018FIA ready to start process for new teams\u2019"},"content":{"rendered":"<p>President Sulayem gives green light, making way for Andretti Global F1 project<br \/>\nLONDON<br \/>\nFormula One\u2019s governing body is ready to start a process for new teams to enter the championship, president Mohammed Ben Sulayem said on Monday.<br \/>\nThe move could open the door to American Michael Andretti\u2019s Andretti Global F1 project, which has so far met little encouragement from most existing teams and Formula One management.<br \/>\n\u201cI have asked my @FIA team to look at launching an Expressions of Interest process for prospective new teams for the FIA @F1 World Championship,\u201d International Automobile Federation (FIA) head Ben Sulayem posted on Twitter.<br \/>\nUS-owned Haas are the most recent completely new Formula One team to enter, debuting in 2016 when the sport had 11 teams until the demise of Manor Racing before the start of the 2017 season. Manor were one of three new outfits, all now defunct, who entered in 2010.<br \/>\nFormula One chief executive Stefano Domenicali said last September that the sport, which could have a record 24 races this year and is growing in global popularity, did not need more than 10 teams.<br \/>\nMcLaren and Renault-owned Alpine have been supportive of Andretti\u2019s plans but other teams have questioned the commercial benefit of a new entrant. The current version of the \u2018Concorde Agreement\u2019 between teams, FIA and Formula One stipulates that the 10 teams split their share of the sport\u2019s revenues and any new entrant would dilute the pot.<br \/>\nFor that reason any new entrant must pay a $200 million fee to enter, with the money shared by the existing teams as compensation. Having a new US-owned team in a sport that will have three rounds in the United States this year, including a night race in Las Vegas, might appeal to the sport\u2019s US-based owners Liberty Media.<br \/>\nAndretti, son of 1978 world champion Mario, is already involved in IndyCars, Formula E and Extreme E and has strong brand recognition.<br \/>\nFormula One will have a new power unit from 2026, when Audi will turn Swiss-based Sauber into their factory team.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>President Sulayem gives green light, making way for Andretti Global F1 project LONDON Formula One\u2019s governing body is ready to start a process for new teams to enter the championship, president Mohammed Ben Sulayem said on Monday. The move could open the door to American Michael Andretti\u2019s Andretti Global F1 project, which has so far [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":348073,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":{"0":"post-348064","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-sports"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>\u2018FIA ready to start process for new teams\u2019<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/leadpakistan.com.pk\/news\/fia-ready-to-start-process-for-new-teams\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"\u2018FIA ready to start process for new teams\u2019\" \/>\n<meta property=\"og:description\" content=\"President Sulayem gives green light, making way for Andretti Global F1 project LONDON Formula One\u2019s governing body is ready to start a process for new teams to enter the championship, president Mohammed Ben Sulayem said on Monday. 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