F1 along with FIA is working on bringing new teams to grid without disturbing current prize pool - Reports

Months after rejecting the interest Andretti FIA and Formula 1 are reportedly considering a new proposal that might increase the number of teams on the grid. According to a news report the concept originates from Tim Milne and Lewis Butler, seasoned technical experts with extensive experience in Formula 1. 

Both have dedicated years to the sport, serving in multiple teams, before transitioning into motorsport consultancy. Now, they have approached the top authorities with a ‘2026 Concorde Agreement proposal’ as reported by RacingNews365. 

According to the proposal, three new teams from a region not currently represented by an F1 team, namely the Americas, Asia, and Africa/Oceania could join the grid but not as constructors. 

For the initial three years, they will have the opportunity to join at least eight races at circuits capable of hosting 26 cars. Moreover, they can engage in a minimum of six additional races, strategically designed to stimulate growth within their local market.

Will they get prize money? 

The answer is no. According to RacingNews365, the proposed draft says that the new teams will operate as operators and won’t get points in the constructor table for the first three years. However, the primary objective is to establish a clear path for a team to achieve constructor status by the beginning of its fourth racing season.

In the initial three years, the team must demonstrate substantial growth in revenue within their domestic market and engage fans effectively in their home market to ensure widespread market access. Additionally, they must establish their headquarters, manufacturing facilities, driver, and technical training centres within their home market. 

The team must perform adequately on the track, meeting predefined benchmarks for race completion rates and lap times during key sessions. An evaluation will be conducted midway through the second racing season to assess progress. These inspections will decide their future in F1 either they get a chance to become constructors or continue as operators only. Notably, from Asian continents teams from China, Japan, and India can be expected.