Summarize this content to 2000 words in 6 paragraphs Formula One’s eleventh team, Cadillac, has reportedly paid a staggering $450 million anti-dilution fee to join the premier class of motorsport. The amount will be split among the other 10 Formula One teams to make up for the reduction in prize money when it is split among 11 teams.As the 2025 F1 season officially commenced on Friday with Free Practice 1 and 2, RacingNews365 has reported that Cadillac paid the huge amount to race from the 2026 season. The anti-dilution fee has been pre-determined as part of the 2021 Concorde Agreement.The report further states that the amount was originally set at $200 million, but some teams considered this amount too low in light of their current valuations. With the current Concorde Agreement expiring at the end of 2025, discussions to have a new agreement are underway between F1 teams and the Formula One Management (FOM) from 2026.
Mercedes’ British driver George Russell races during the Las Vegas Formula One Grand Prix in Las Vegas, Nevada on November 23, 2024.
Mercedes’ British driver George Russell races during the Las Vegas Formula One Grand Prix in Las Vegas, Nevada on November 23, 2024.
Patrick T. Fallon / AFP/Getty Images
Cadillac’s journey to join F1 was met with several roadblocks before it received the final approval from the FOM. The team made several changes to its management structure, but a higher involvement of General Motors is believed to have been the key factor that led to its bid being accepted.Despite the setbacks it faced earlier, Cadillac didn’t hold back in preparing itself for an F1 entry in 2026, when the sport enters a new era of regulations. With a new headquarters at UK’s Silverstone and an extensive hiring process to onboard top F1 talent, the team is on course to compete in F1 next year. Cadillac’s new team principal, Graeme Lowdon, revealed last week that preparations are being made to compete for top positions. Newsweek Sports reported:”In terms of being ready to race, everything is on schedule.”We don’t just want to turn up and race, we want to be as competitive as we possibly can be.”From that point of view, for sure we would have loved to have had more time and more people because the more of that you have, the more performance you can build.”But we recognised that the process itself requires a huge amount of energy and effort.”Lowdon revealed that Cadillac received access to important data that the other teams have, and stressed that there is a lot that needs to get done to get the car ready. He added:”In terms of timeline for production, we’re happy with where that stands.”We’ve been using a lot of time up to now doing a lot of testing and validation of individual components, things like testing of noses, squeeze testing of chassis elements and the like.”There’s an awful lot of work that has gone on in the background. There’s still a lot of work to do.”We’re in a significantly better position now that we’re now a fully-fledged F1 team. We will have access to all the data and information that all the other teams have.”
