Cadillac, which has finally been approved as the second American and 11th overall team in Formula 1, will have to cough up 3 billion kroner.
To participate in Formula 1 from 2026, Cadillac must pay a fee of 450 million dollars, equivalent to approximately 3 billion Danish kroner.
This is reported by Racingnews365 .
The money is a condition for the car brand to become the 11th team in Formula 1. The payment is intended to act as a kind of band-aid for the 10 other teams, who can no longer receive quite as much prize money.
The money, also known as the anti-dilution tax, has been a condition for potential new Formula 1 teams since 2021.
It was actually decided that a new team in Formula 1 would 'only' release 200 million dollars in compensation to the existing teams.
However, the amount has been increased because Formula 1 as a sport has simply become more valuable since the original agreement was made.
Cadillac's path to Formula 1 began in January 2023, when the international motorsport organization FIA openly looked for new teams.
Many were interested, but only one team had an application strong enough to meet all the requirements: General Motors-backed Cadillac.
The Formula 1 organization FOM, which is not the same as the FIA, initially wanted nothing to do with Cadillac, even though the FIA approved the team.
Only when Andretti Motorsport withdrew from the joint project with Cadillac did the FOM want to look at the matter again. A provisional approval was given at the end of 2024, and the final approval came on March 7 of this year.
It has been decided that Cadillac will participate as a customer team at Ferrari from 2026. From 2028, General Motors will be able to run with their own engine.
It will be the Manor team's former team boss, Graeme Lowdon, who will manage the 11th team in Formula 1. However, that team only spent one season in the field, and that without any points.
In addition, Nick Chester, former Renault boss, has been appointed as technical director. Pat Symonds, with experience from Benetton, Renault, Williams and the Formula 1 organisation, has been appointed as technical advisor.
Current negotiations between the teams and FOM on a new Concorde agreement, covering the period 2026-2030, are ongoing. The current agreement expires at the end of 2025.
