Formula 1 to welcome 11th team to the grid in 2026 after blockbuster agreement reached
Formula 1 have announced an agreement reached in principal with General Motors over a new team being added to the grid.
United States car giants GM will enter their Cadillac brand in 2026 to increase the number of competing teams by one to 11.
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report that an anti-dilution fee of $450million [£358million] will be paid by GM and their partner TWG Global for the entry.
This is said to be split amongst the existing ten F1 teams in order for them to be compensated for a loss of prize money as the new split will soon pay 11 teams.
In a on Monday, president and CEO of Liberty Media Greg Maffei detailed the potential economic benefits of their introduction.
"With Formula 1’s continued growth plans in the US, we have always believed that welcoming an impressive US brand like GM/Cadillac to the grid and GM as a future power unit supplier could bring additional value and interest to the sport.
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"We credit the leadership of General Motors and their partners with significant progress in their readiness to enter Formula 1.
"We are excited to move forward with the application process for the GM/Cadillac team to enter the Championship in 2026."
“General Motors and Cadillac’s commitment to this project is an important and positive demonstration of the evolution of our sport," F1 president and CEO Stefano Domenicali added.
"We look forward to seeing the progress and growth of this application, certain of the full collaboration and support of all the parties involved."
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FIA president Mohammed Ben Sulayem also said: "General Motors is a huge global brand and powerhouse in the OEM world and is working with impressive partners.
"I am fully supportive of the efforts made by the FIA, Formula 1, GM and the team to maintain dialogue and work towards this outcome of an agreement in principle to progress this application to bring a GM/Cadillac branded team on the grid for the 2026 FIA Formula One World Championship.
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"All parties, including the FIA, will continue to work together to ensure the process progresses smoothly."
A previous GM bid to enter the grid was spearheaded by Andretti Global but formally rejected in January.
"Our assessment process has established that the presence of an 11th team would not, in and of itself, provide value to the Championship," F1 .
However, GM/Cadillac will be participating as of the season after next following a successful bid.
F1's current ten teams include world champion Max Verstappen's Red Bull Racing, Mercedes, McLaren, Ferrari, Aston Martin, Haas, Alpine, RB, Williams and Kick Sauber.
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