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Claims 11th F1 entry would hurt existing teams' value "crazy town talk" – Rodin

Rodin CEO David Dicker reckons that Formula 1 teams' claims that an 11th squad would hurt their value is "crazy town talk" and the anti-dilution fee makes little sense.

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Photo by: Alfa Romeo

The New Zealand-based Rodin Cars submitted an entry to join the F1 grid, projected for either 2025 or 2026, along with US racing powerhouse Andretti Global, F2 and F3 competitor Hitech GP, and South East Asian outfit LKYSUNZ.

Rodin was eventually not chosen to be put forward by the FIA, with Andretti given the nod to progress into the final phase. Here, the team will have to secure a deal 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 existing teams, who want an 11th team to have to pay a greater anti-dilution fee of $600 million - as opposed to the $200 million set out in the Concorde Agreement.

The teams have cited the increasing value of their businesses as enough reason to hike up the fee, but Dicker refuted those claims as "not rational".

"The dilution fee doesn't make any sense. I don't want to shit on the teams, but obviously they're experts at motor racing, but I'm not so sure about things like finance," Dicker told Autosport.

"The value of an actual team hasn't got any input into this whole dilution, and the idea that adding another team is going to even reduce the value of the other teams.

"That's just crazy town talk. I mean, that's not going to happen. Why would that happen? And the only area where there's even sort of potential dilution is in the prize pool. The prize pool is $900 million, as I understand it. So that's notionally $90 million per team. You bring in another team, you need another $90 million.

"It's not $200 million or $600 million; all the talk around dilution is just not rational."

David Dicker (right) with Trevor Carlin

David Dicker (right) with Trevor Carlin

Photo by: Carlin

Dicker added that the teams' desire for a bigger anti-dilution fee was not about growing the championship, despite frequent claims from them that they would only support a team that would help F1 to expand.

He felt that it was somewhat hypocritical from teams that spent heavily before the cost-cap era, and that it was only Liberty Media and the FIA who stopped them being "a financial basket case".

"I read an article the other day where [McLaren CEO] Zak Brown was quoted as basically saying, 'Yeah, we'd get $70 million or something on my plan and that'd be great'," explained Dicker.

"So, that's got nothing to do with growing the sport or the good of the sport. And let's face it, the teams were basically a financial basket case until the Liberty guys brought in the budget cap.

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"They couldn't operate the things in a decent financial way. It's only Liberty and the FIA that's forced them to be financially prudent.

"Now, Formula 1's actually worth money. Teams can actually make money. And they're all acting as if it was all somehow their idea, which we all know is completely untrue. They would just spend and spend and spend until there wasn't any money left."

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