F1 boss warns 11th team could lead to BANKRUPTCIES

The Bahrain GP kicks off the eagerly-awaited 2023 F1 season — Photo: © LAT Images

Guenther Steiner

F1 boss warns 11th team could lead to BANKRUPTCIES

Guenther Steiner is a staunch opponent of radical plans to introduce new teams

Dan Davis

Sunday 13 August 2023 21:57 Updated: 00:32

Haas boss Guenther Steiner has again rallied against proposals to introduce new teams onto the Formula 1 grid, insisting any changes may result in bankruptcy.

The FIA are continuing to weigh up proposals lodged by prospective constructors, with Andretti expecting a definitive answer from the governing body next month.

Even in the event of a green light, the number of teams would likely not be expanded until 2025 - and key figures have continued to express their disapproval.

Steiner is the latest to wade into the heated debate and raise long-term concerns.

Steiner believes introducing new teams would upset F1's stability

Financial worries

"You have 10 very stable teams which are all technically stable, financially stable," he told the media ahead of the Belgian Grand Prix.

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"If you put another team in and maybe somebody gets in jeopardy in three or four years' time, maybe only eight or nine teams will be left. The business is run by FOM and they need to make sure that this is sustainable.

"At the moment we are at the peak. Formula 1 is growing and there is never an end to it. We could have 56 races in a year and 22 teams in a year, and [everyone] would be happy.

"I think we made big growths in the last year. [Now], it is very stable. We have ten very good teams and if you change something, you could go the other way.

"If you do too much and the teams aren't stable anymore, what would you achieve then? You'll be sitting here in three years saying you've lost a team because it went bankrupt."