Williams boss James Vowles vehemently opposes Andretti’s entry as the 11th team in Formula One, according to recent statements. The FIA, the governing body of racing, has granted Andretti’s application to join the grid in the future. However, the final decision rests with Liberty Media, F1’s commercial rights holder. The timeline for this decision is uncertain but could extend into early next year, sources have revealed.
F1 teams are divided in their stance, ranging from strong opposition to skepticism. Williams falls into the former category due to concerns over potential dilution of revenues from F1’s prize money. Despite being one of F1’s smaller teams, Williams has faced challenges on the track in the past decade with consistently low championship finishes.
James Vowles stated, “Williams is firmly against the addition of an eleventh team. Our motivation lies in our responsibility towards our 900 employees. If you review our financial records, you’ll see significant losses from 2021 to 2022, and the numbers for 2023 are projected to be even worse.”
He further explained, “We invest in this sport to improve and believe in the direction it’s going. However, adding another team without ensuring the financial stability of the current teams could harm the sport.”
Hamilton and Verstappen show support for Andretti’s F1 bid
In 2022, Williams reported a revenue of £142.8 million, an increase from £96.4 million in 2021 and £48.6 million in 2020. However, their loss after tax in 2022 amounted to £17.9 million, compared to £11.9 million in 2021 and a staggering £58.5 million in 2020. The shortened 2020 season due to the pandemic heavily impacted financial performance.
Earlier this year, discussions about Andretti’s F1 bid arose, which included a partnership with General Motors and Cadillac. In response, Michael Andretti criticized F1’s existing teams for being “greedy.” Vowles clarified that their opposition is not driven by greed but rather the need for F1 to ensure overall stability before allowing new entrants.
Vowles stated, “We finally have a sustainable entity. Teams are collaborating more, resulting in closer racing. However, it’s important to acknowledge that financial stability is not limited to Williams alone. Adding an eleventh team would be reasonable only if the tenth team on the grid is financially stable.”
He further conveyed, “We are confident in our investment and its potential to enhance the sport. However, we must be cautious to avoid diluting what we have already achieved, especially considering the substantial amount being invested to make F1 better.”
“We are open to new entities joining the sport, but the pie must grow as a result, not shrink.”
Interestingly, Vowles suggested that Williams would be open to collaborating with General Motors as an engine manufacturer if they were to enter F1 without Andretti. However, he clarified that no such discussions have taken place.
Vowles mentioned, “To clarify, our position is not against Andretti or GM. In fact, we welcome GM with open arms and hope to build a relationship with them if things don’t work out otherwise.”
“They are an incredible entity that would undoubtedly contribute positively to the sport. Our cautious approach aims to ensure the protection of the current state of the sport.”
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