Formula 1’s newest potential bidders vent at ‘chaotic’ and ‘anxiety’ inducing process
Delays to the bidding process for new Formula 1 teams have led to “frustration” among potential new entrants, who have described it as “chaotic”, City PM can reveal.
Five parties are understood to have made bids to join Formula 1 in 2026, when the series is set to expand the grid.
And though Formula 1 itself has no say over potential bids until motorsport’s governing body the FIA has chosen its preferences, the lengthy waiting game the bidders have had to sit through has not leant itself to confidence in the system.
Formula 1 and FIA lack of transparency
One team, speaking to City PM, said the process was “chaotic with deadlines consistently extended at short notice” and that the process offered a high level of “frustration and a lack of transparency”.
The FIA was approached for comment in relation to the timeframe of the process. Formula 1 chose not to comment.
It is understood from one of the parties that to simply express an interest in becoming a Formula 1 team it cost an initial £20,000, skyrocketing to closer to £300,000 once the bid has been submitted.
A team told City PM that while the process induced “anxiety”, with bidders “itching to get going”, there must be some patience with the FIA and F1 on to ensure that no declined bidder has the ability to launch a legal challenge based upon their exclusion.
“The FIA are rightly taking their time, there’s so much at stake,” the senior source told City PM “It might not be a big deal in the global landscape [due to events such as the Ukraine-Russia conflict] but it’s a big deal in our world.”
It is understood that a decision on whether there are bidders, if any, chosen to reach the next stage is due imminently.
And even beyond that, there will be more work to be done before the new entrants – which could include major US Nascar team Andretti – are able to take their place on the grid in 2026.
They must then go through another process with Formula 1, with one team telling City PM that it’s as yet unknown as to whether the motor racing discipline will stick to previously agreed rules or go down their other route in terms of accession.
“In fairness to Mohammed Ben Sulayem [FIA president], it’s in his best interests and he wants more teams, but do Formula 1?” they said.