The future of F1: Deadline approaches for new team applications – should there be more cars on the grid?

Formula 1 president Stefano Domenicali says prospective new F1 teams must bring value to the championship in the medium to long term, as the deadline looms for formal applications to join the grid from 2025.

In February, the FIA, the sport's governing body, launched an application process for new teams to seek to join Formula 1 in 2025, 2026 - when new engine regulations take effect - or 2027.

Formula 1 currently has 10 teams and is limited to a maximum of 12 up to and including the 2025 season by the current Concorde Agreement.

The deadline for the submission of formal applications is Monday (15 May), with the FIA aiming to make a decision on any applicants by June 30.

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An Andretti-Cadillac entry from 2025 is the most high-profile applicant so far, while former BAR CEO Craig Pollock is fronting a proposal named Formula Equal that would see a team with 50 per cent male and 50 per cent female involvement join the grid from 2026 if approved.

Hong Kong-based billionaire Calvin Lo has also told Reuters he is in talks about investing in potential new teams, though ruled out being part of the Andretti bid and another Hitech Grand Prix one.

Discussing prospective new teams at the Australian GP, Domenicali told Sky Sports F1: "Some people would like to be very vocal, some others are less vocal.

"The fact that F1 is attracting new potential teams and investors shows the status of F1 today. There is a process in place that is open, everyone can apply, the first step is that the FIA will make an analysis and the second will be done by the commercial [rights holders] - there will be a joint discussion. We will see what will be the outcome of it.

"It's not about opposition (to more than 10 teams). It's not a problem, it's great stuff if it is bringing value to the championship in the medium to long term. That is the point that is always raised when we talk about this subject."

Members of F1's 10 current teams have suggested that the $200m (£161m) fee a new entrant would have to pay under the current regulations fails to recognise the sport's huge recent growth and would leave them worse off. The $200m fee would see each of the current teams receive a one-off $20m (£16m) payment.

McLaren boss Zak Brown is anticipating up to four new teams will submit applications to join the grid.

"I think what's come to light is that three or four teams are going to put forth entries," Brown told the Associated Press.

"I'd love to see the grid expand with the right terms and conditions."

It has already been confirmed that Audi will enter F1 in 2026 after acquiring a stake in Sauber, which has run under the Alfa Romeo banner since 2019.

Meanwhile Ford will rejoin F1 following a 22-year absence in 2026 after partnering with reigning constructors' champions Red Bull.

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Sky F1 pundits: F1 should work towards having 12 teams

Sky F1 pundits Martin Brundle and Karun Chandhok believe Formula 1 should be working to get back to 12 teams on the grid, provided that the new teams are credible and sustainable.

F1 has not had 12 teams since 2012 and the current 10 teams have made up the grid since 2017.

"I think F1 could well do with having 24 cars on the grid," Brundle said.

"I think we need even more stories and characters, so I think F1 should work towards that.

"But they've got to be credible and of course the 10 incumbents don't want their franchise values diluted or their prize money diluted."

Chandhok feels the current 10 teams does not offer enough opportunities for young drivers to progress into F1.

He said: "I believe we should have 12 teams on the grid. I think there's a bottleneck for drivers.

"I'm annoyed by the fact it took us this long to get Oscar Piastri and Nyck de Vries into F1, Felipe Drugovich is on the sidelines - these are three good, credible F2 champions who all deserve to graduate.

"And also, if Red Bull, for example, decide to pull out, you lose two teams, then what? You're down to eight teams, that's not very good.

"As a sport we've just got to make sure we don't get caught with too few cars on the grid.

"So that's why I'm a bit surprised by F1's public stance against Andretti-Cadillac coming in. Andretti's a great name, General Motors is a great manufacturer to have involved, and so what if it's just a branding deal and they're getting support or in a partnership with Alpine or Renault, so what?

"It's no difference to the Ford deal with Red Bull, and everyone got very excited by that."

The Formula 1 season resumes with the Azerbaijan Grand Prix from April 28-30, with the first Sprint weekend of the 2023 season shown in full live on Sky Sports F1. Watch Saturday's Sprint at 2:30pm and Sunday's race at 12pm. Get Sky Sports