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Why any new F1 team has to pay $200million to the current grid to enter

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Under the terms of F1's new Concorde Agreement, any new team wanting to enter F1 now has to pay $200million which will then be shared evenly amongst the 10 existing entries. In this video Scott Mitchell explains the thinking behind the move, and how it is designed to prevent 'chancers' trying to join F1, as well as offering more protection to the current teams in a US sports-style franchise model.

READ MORE HERE
https://the-race.com/formula-1/new-f1-squads-must-now-pay-existing-teams-200m-to-enter/

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