Rumor: Entry fee for new F1 teams to be $1 billion

According to sources, F1 CEO Stefano Domenicali is working on a new Concorde agreement for F1.

The rumored biggest changes are:

1. Adding 2 more teams to the grid in the short term

2. Increasing entry fees for new teams from $200 Million to $1 Billion

3. Increasing the number of races, but in return teams would either get an increase in the cost cap, or a bigger cut of the prize money to pay for the additional race personnel that would rotate in and out through the longer season.