F1 new teams

Mercedes chief Toto Wolff has urged caution in Formula 1’s consideration of new teams joining the grid in the near future, saying the sport must concentrate on making its new commercial terms work for those currently on the grid.

Formula 1 has issued a statement denying there are strong candidates to join the grid for the 2021 season, saying there are "no serious discussion" taking place with interested parties.

Formula 1 team bosses have urged caution amid hopes of expanding the grid in the near future, saying the priority should lay with ensuring the health of the existing outfits racing before welcoming new entries.

Formula 1 CEO Chase Carey says there is “real interest” from new teams to join the grid in the future – so long as proposed changes to the sport’s structure go ahead.