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Wednesday, December 6, 2023

Claims eleventh F1 entry would harm present groups’ worth “loopy city speak” – Rodin

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The New Zealand-based Rodin Automobiles submitted an entry to affix the F1 grid, projected for both 2025 or 2026, together with US racing powerhouse Andretti World, F2 and F3 competitor Hitech GP, and South East Asian outfit LKYSUNZ.

Rodin was finally not chosen to be put ahead by the FIA, with Andretti given the nod to progress into the final phase. Right here, the staff must safe a cope with FOM to cement its place on the grid.

MORE: How the FIA went from seven F1 new team bids to Andretti

This comes amid resistance from the present groups, who need an eleventh staff to need to pay a higher anti-dilution price of $600 million – versus the $200 million set out within the Concorde Settlement.

The groups have cited the growing worth of their companies as sufficient motive to hike up the price, however Dicker refuted these claims as “not rational”.

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“The dilution price does not make any sense. I do not need to shit on the groups, however clearly they’re consultants at motor racing, however I am not so certain about issues like finance,” Dicker advised Autosport.

“The worth of an precise staff hasn’t obtained any enter into this entire dilution, and the concept that including one other staff goes to even cut back the worth of the opposite groups.

“That is simply loopy city speak. I imply, that is not going to occur. Why would that occur? And the one space the place there’s even form of potential dilution is within the prize pool. The prize pool is $900 million, as I perceive it. In order that’s notionally $90 million per staff. You usher in one other staff, you want one other $90 million.

“It is not $200 million or $600 million; all of the speak round dilution is simply not rational.”

David Dicker (proper) with Trevor Carlin

Picture by: Carlin

Dicker added that the groups’ need for a much bigger anti-dilution price was not about rising the championship, regardless of frequent claims from them that they might solely assist a staff that will assist F1 to broaden.

He felt that it was considerably hypocritical from groups that spent closely earlier than the cost-cap period, and that it was solely Liberty Media and the FIA who stopped them being “a monetary basket case”.

“I learn an article the opposite day the place [McLaren CEO] Zak Brown was quoted as principally saying, ‘Yeah, we’d get $70 million or something on my plan and that’d be great’,” defined Dicker.

“So, that is obtained nothing to do with rising the game or the nice of the game. And let’s face it, the groups had been principally a monetary basket case till the Liberty guys introduced within the finances cap.

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“They could not function the issues in an honest monetary method. It is solely Liberty and the FIA that is compelled them to be financially prudent.

“Now, Method 1’s truly value cash. Groups can truly make cash. And so they’re all performing as if it was all in some way their thought, which everyone knows is totally unfaithful. They’d simply spend and spend and spend till there wasn’t any cash left.”

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