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Michael Andretti made headlines last week when Andretti Global and General Motors announced their plans to pursue a Formula One bid under the Cadillac brand. And while FIA president Mohammed Ben Sulayem seemed receptive to the idea, a majority of the F1 team owners were not.
One of the concerns that continues to be raised is the dilution of prize money. The Concord Agreement currently states the teams split their portion of the sport’s revenue. Thus, there is a $200 million “anti-dilution” fee, which essentially acts as an entry fee for new teams.
