23/09/2023
NEWS STORY
2026 hopeful LKYSUNZ has clarified a comment it made on Friday in relation to the anti-dilution payment to be made to existing teams should its entry be accepted.
"Our announcement was a statement of our intent to bring a globally focussed and culturally diverse team to the grid for 2026," said the Asian outfit, which claims to have secured $1bn in funding for its bid.
"A number of Formula 1 team principals have publicly stated to the media that they feel a $600m anti-dilution payment is a more appropriate sum for any future new teams to pay," it added. "Our statement was merely highlighting our preparedness to pay this amount should any future Formula 1 regulations state this.
"At no point was this intended to be a reflection on the FIA's Expressions of Interest process or the discussions that have occurred around it. We apologise profusely for any misunderstanding that this may have caused."
As it stands the anti-dilution payment is $200m but the majority of teams have admitted that they would seek to see this sizable increased before the green light was given to any newcomer.
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