Williams team principal, James Vowles, has articulated the team’s staunch stance against Andretti Autosport’s prospective entry into the Formula One grid as an 11th team.
The recent approval of Andretti’s application to join the F1 grid by the FIA, the motorsport governing body, hinges on the acceptance of Liberty Media, the commercial rights holder of Formula One. Although this potential entry is tentatively set for 2026, the timeline for F1’s decision remains uncertain, possibly extending into early next year according to sources.
Numerous Formula One teams have expressed either strong opposition or skepticism regarding this development, with Williams firmly situated in the former camp. Their concerns primarily revolve around the prospect of their revenues being diluted should another entity receive a share of F1’s prize money.
Williams, despite its illustrious history, has functioned as one of Formula One’s smaller teams and encountered significant on-track challenges over the past decade. Their championship standings in the last five years have been 10th, 10th, 10th, 8th, and 10th.
Vowles elucidated Williams’ standpoint, stating, “My position is unequivocal. Williams is resolutely against the addition of an eleventh team, and this opposition is emphatic. Allow me to elucidate the rationale behind our stance. My duty is to our 900 employees. If one were to peruse Companies House records, which have been duly submitted, one would discover the financial losses incurred between 2021 and 2022. These losses amounted to tens of millions, if not more, compared to the forthcoming 2023 figures, which are poised to be substantially higher. Our motivation stems from our ongoing investment in this sport, our belief in its strategic direction, and our aspiration to enhance its overall quality.”
It is worth noting that Lewis Hamilton and Max Verstappen have expressed their support for Andretti’s F1 venture.
In 2022, Williams reported a revenue of £142.8 million, a notable surge from £96.4 million in 2021 and £48.6 million in 2020. However, the team also reported a loss after tax in 2022 amounting to £17.9 million, in contrast to £11.9 million in 2021 and £58.5 million in 2020. The 2020 F1 season was significantly affected by the pandemic, commencing later and being considerably shortened.
The concept of Andretti’s F1 bid, which encompasses a collaboration with General Motors and Cadillac, first surfaced earlier this year and evoked a spectrum of reactions from existing F1 teams. Michael Andretti, the team owner and scion of the 1978 world champion, Michael Andretti, characterized F1’s incumbent teams as “avaricious.”
Vowles underscored that the apprehension expressed is not rooted in greed but instead emanates from a desire to ensure Formula One’s financial robustness before admitting new participants. He affirmed, “In our view, we have finally established a sustainable entity. Teams are increasingly cooperating, yielding closer competition. However, it is crucial to acknowledge that our financial stability is not unique; indeed, approximately half of the grid faces similar challenges. We maintain that the addition of an eleventh team is a judicious move, but it must occur only when the tenth team on the grid attains financial stability. While we believe in our investments to enhance the sport, we must exercise prudence as a collective endeavor. While many attest to our current favorable position, we anticipate substantial financial commitments in the near future to elevate the sport’s quality. Consequently, it becomes evident why we exercise great caution in preventing the dilution of our existing resources. We are more than willing to welcome new entities, provided that the pie expands rather than diminishes.”
While Vowles hinted at the potential for collaboration with an engine manufacturer such as General Motors if Williams were to enter F1 independently of Andretti, he clarified that no such discussions have occurred. He remarked, “To clarify, our stance is not antagonistic towards Andretti or GM; on the contrary, we extend a warm welcome. Williams wholeheartedly embraces GM and aspires to cultivate a relationship should alternative arrangements materialize. GM is a formidable entity that, in our view, would enhance the sport. Therefore, we are not averse to new entrants but remain highly vigilant in safeguarding the current state of the sport.”
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