Steiner reveals MAJOR concern over 11th F1 team joining the grid

Guenther Steiner has said that adding an 11th team onto the F1 grid ‘wouldn’t make business sense’, but implied that he would be open to the idea if it was initiated for the right reasons.

American former driver Michael Andretti has approached the FIA and the teams about joining the grid as a new team with Andretti Autosport, without much success.

Steiner, who currently leads the only American team on the grid, said there ‘needs to be a clear upside’ to adding another F1 rival for Haas.

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The team principal also warned that the financial instabilities that existed until relatively recently ‘can always come back’, stressing the importance of looking after the teams that are already on the grid.

In an interview with Mirror Sport, he said: "Where I want to have the team is to be profitable, because the value raises again, and we are on our way – we're in a good place at the moment."

But Steiner remained realistic, noting that his own team did not win any prize money for two years.

He added: "Everybody forgot how five years ago, people were going bankrupt. This was not 20 years ago and this can always come back.

“It's not guaranteed that F1 will continue like it is so it's better to build up to buffer the 10 teams we have and to look after them, because they were here in the bad times as well.

"When we came in, we didn't get any prize money for two years, and Mr Haas had to pay for it. So why would we share it now with other people?”

Steiner: F1 does not need an 11th team

Steiner also questioned the motivations behind an 11th team, stressing that the sport is not reliant on another competitor coming through the door.

He explained: “I’m not against an 11th team, but there needs to be a clear upside for everybody.

"These 10 teams invested a lot of money into this sport and we took it to where it is, so why would we agree to let somebody in knowing that our revenue will go down and they will make money from something which was built by other people?

“And if they can bring the upside, and we are all having an upside, then why would we be against it?

"But they need to prove that and I think, with the process that is in place with the FIA, there are quite a lot of people out there who want an F1 team and if someone can assure there is an upside for everybody, the door is open.”

He added: "But just coming in because it's a good time to get, for cheap, a very valuable asset, I think everybody would be like, 'Wait a moment.’

"F1 doesn't need an 11th team – we have 10 teams which are very solid and we've never had that before, where they're all solid financially and sportingly, with no back marker anymore.

"Why would we open the door now if there is no upside? It wouldn't make business sense."

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