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Could there be a new team entering F1?

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We could see a new team entering Formula One in the near future under the name of “Monaco F1 Racing Team”, after businessman Salvatore Gandolfo, who founded the driver management firm Monaco Increase Management, has suggested that he is interested in joining the world championship with his own team.

A recent statement from F1 CEO Stefano Dominicali, regarding wavering a $200 million fee for new entrants, has encouraged Gandolfo. who revealed the idea in 2019, to proceed with his plans. The fee was introduced last year to protect the current 10 teams but also avoid any false starts onto the grid like we have seen in the past with USF1.

The Italian born businessman previously admitted that he was waiting for the budget cap and regulation changes to be introduced in 2021 before making an entry, but due to the global pandemic, the changes were pushed back to 2022, and the entry fee was introduced. But with the fee potentially being waived, could we see Gandolfo push ahead?

“The current Monaco F1 Racing Team Project was the first to actively discuss the possibility of an entry with the F1 governance, as early as 2019, and to set up a structure accordingly, realising the potential of the new technical regulations that was initially supposed to come into force in 2021, and was subsequently delayed because of the pandemic,” said Gandolfo.

“We believe that the recent statements of the new F1 CEO Stefano Domenicali, which suggest that the entry fee for new teams could be waived, represent a step forward in the right direction. We appreciate the open attitude of both Stefano and the FIA and are ready to take the necessary steps in order to have our application finalised.”

Monaco Increase Management currently represent ex-F1 driver and current Formula E driver Pascal Wehrlein, along with Ganassi IndyCar driver Alex Palou, who are both tipped as potential drivers.


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