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Related to all of this is the question of the details of the 2026 Concorde agreement. I am speculating here, but I generally think that both FIA and FOM would like to get the 2026 technical specifications complete before the FOM moves onto the 2026+ Concorde Agreement negotiations. At the same time, with teams like Audi coming on board for 2026 as a manufacture, I suspect there are some "agreement in principle" as to what things will look like in 2026+ from a team perspective (including things like revenue sharing). So it's probably not like they are starting from scratch with respect to the next agreement.
As I mention earlier in this thread in ways there is a real advantage for Andretti to join in 2026 vs. 2025. If they join in 2025 they have to produce and race a one year only spec. While if they join in 2026, they can focus on that new technical spec and not worry about the prior/current one. It also gives them more runway to enter once/if they are approved and this also helps if they do manage to recruit any senior staff as it may help with respect to gardening leave requirements (i.e., enough time for staff to go on leave and enough time for them to actually contribute toward the Andretti car).
The downside is that no doubt the other teams are going to say they will not sign a new 2026 agreement unless the workflow and compensation (i.e. anti-dilution) structure is significantly restructured. With that fee being much higher than the $200M USD as it is today. I think I have even seen someone suggest it be $1B USD? Maybe that is just a negotiating tactic. Anyhow, the point is that it no doubt will be more expensive if they join in 2026 vs. 2025. And that assumes 2025 is even doable given the pressure from existing teams.
Plus, from Andretti's perspective, if the 2026 Concorde agreement really isn't negotiated until lets say mid 2025, then they would be in limbo for a good year plus. And even then with no real guarantee for a positive resolution or path forward for them in 2026. If FOM really wants to grow the number of teams and if Andretti really wants to join up, if I were Andretti I would try to work with FOM and the teams to work a binding agreement now for some a guaranteed entry in 2026. It no doubt would be a fee much larger than $200M, but it would remove them from limbo.
Another wrinkle is who knows what the value of the teams will be in 2026. For all we know there could be an economic downturn that reduces their values, or the opposite could happen. So it would be beneficial to set values now, determine what everyone can agree to regarding financial compensation, get that compensation started now (based upon current valuations), but have a guaranteed entry for Andretti in 2026.
I realize this is a big ask and would take lots of work to make happen. Not to mention potentially very expensive for Andretti.
Richard
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