With just ten teams on the grid and the series’ popularity on the rise, there appears to be more competition than ever to join the exclusive club of Formula One.
A recent announcement by an Asia-based F1 hopeful has secured $1bn funding for potential team entry.
LKY Sunz is seeking to join the Formula One grid in time for the 2026 season.
Benjamin Durand, CEO of LKY Sunz, said they are prepared to pay a $600 million anti-dilution fee despite the current guidelines stating $200 million.
The anti-dilution fee is split between the existing ten teams.
Officially, that number reflects the potential losses each team will incur, with an extra team taking a slice of the F1 income.
The LKY Sunz $1 billion backing is a record for any team trying to enter F1 in 2026.
Technically, up to two teams’ spaces are available, bringing the F1 grid to the limit of 12 specified under the current Concorde Agreement commercial rights deal.
Since the 2016 season, there have been ten teams in F1.
In the 1980s and 1990s, however, there were seasons with as many as 14 teams in the field.
According to FIA regulations, up to 26 cars can be admitted to the Championship. However, each team can only enter two cars.