New teams must pay F1 rivals $200m
Sep.13 - New Formula 1 entrants will have to pay $200 million to the existing teams in order to enter the sport, according to a clause in the new Concorde Agreement.
France's L'Equipe claims that the money would need to be evenly distributed to the ten teams - meaning a payment of $20 million per team currently on the grid.
The report said the payment is to "ensure the seriousness of each new entrant", as it would compensate the existing teams for the dilution of the official prize-money pot.
"What we are looking to do is avoid what we have experienced in the past," said McLaren supremo Zak Brown at Mugello. "USF1 announced its arrival and never made it to the track.
"The $200 million means that if a team wants to come into Formula 1, it has the ability to do so," he added.
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OK, I sorta get the upfront money to secure a place, but if it is to avoid diluting the prize pot, put it there and give the new guys a chance to earn it back. This anti-competitive clause is a bit like going to the park to play basketball and having to pay the other guys/gals $5 before you can play. Stupid.
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