Formula 1 teams are naming their price for how much it will take to welcome an 11th team.

While the FIA, F1’s governing body, has a $200 million entry fee to offset revenue and prize money dilution from another team entering, that has not swayed most teams from supporting an additional contender.

Instead, teams are looking for at least $600 million, per Motorsport.

One source said that that is the lowest figure they have heard, and some teams are pushing for more. The current FIA rules apply through 2025, but some teams are pushing for them to be amended earlier to increase the entry fee.

The current top contender to join F1 is a joint bid from Andretti Global and Cadillac. The group has a deal in place with Renault to supply its engines if the bid is successful.

Red Bull principal Christian Horner has suggested that Andretti could buy an existing team instead of starting a new one, and Horner may help put one on the market.

The team is reportedly considering a sale of AlphaTauri. The team could also relocate AlphaTauri to England, which could ease certain logistical challenges.

Should its bid to enter F1 prove challenging, Andretti, which sought to purchase Sauber in 2021, could pivot to AlphaTauri.

The only two public bids for Manchester United are reportedly too low for the club’s current owners.

Qatari Sheikh Jassim bin Hamad Al Thani and Jim Ratcliffe’s INEOS have both confirmed their separate bids for the Premier League club, but Telegraph Sport reported that the bids would need to be larger in order for the Glazers to sell.

Sheikh Jassim confirmed his bid for a full takeover without debt on the Feb. 17 deadline. It was reported that INEOS, which has the help of Goldman Sachs and JPMorgan Chase & Co., wanted to take a 69% stake in the club. 

It’s unclear how much either bid is, but neither are believed to reach the roughly $6 billion the Glazers are thought to be looking for, which would be a record price for a sports team. Forbes last valued the club at $4.6 billion.

Raine Group was hired by the Glazers, who purchased the team for roughly $942 million in 2005, in November to explore a potential full or partial sale. The Athletic reported on Friday that Joel and Avram Glazer are reluctant to sell, but are unable to buy out the four family members who do want to sell.

Elliott Management, Ares Management, and Oaktree Capital have all reportedly offered funding to bidders.

After months of planning and deliberation, plans for the Tennessee Titans’ new stadium appear to finally be moving forward.

The office of Nashville mayor John Cooper recently filed legislation providing more details on the deal to construct the Titans’ new $2.1 billion stadium in Nashville.

The new proposal takes into account feedback from the Nashville Metro Council and the city community at large after the mayor approved an initial plan in October.

This final agreement adds “key details in the form of development and lease agreements,” as well as “street and plaza infrastructure to be covered by the Titans, in addition to infrastructure required to open the new stadium,” per The Tennessean.

The project will rely on revenue bonds, sales and hotel tax diversions and state contributions, adding up to $1.26 billion in public money — the largest amount ever for an NFL stadium.

Once the proposal is approved, Nashville will start collecting a 1% hotel tax as part of that public funding.

The legislation will go before the Metro Council on March 7, with a vote taking place by the end of April, according to Nashville Business Journal, which also expects the stadium to be completed by 2027.

It’s the culmination of a long process that began in February 2022, when the Titans decided that building an entirely new stadium would be preferable to making at least $600 million in upgrades to their current home, Nissan Stadium.

FuboTV, which calls itself a “sports-first cable TV replacement product” in the U.S., surpassed $1 billion in global annual revenue for the first time in 2022.

In North America, revenue increased 55% year-over-year for the full year to $984 million, with advertising revenue reaching $100 million — also a record. Subscribers jumped 29% year-over-year to a record 1.45 million.

For the rest of the world, revenue reached $7.2 million and subscribers increased 117% year-over-year to 420,000.

“In 2022, we added differentiated content, including Bally Sports’ expansive portfolio of regional sports networks, aimed at driving subscriber growth and doubling down on our sport-first positioning,” said Edgar Bronfman Jr., executive chairman at Fubo.

Fourth-quarter revenue increased 38% year-over-year to $319.3 million. In North America, fourth-quarter revenue jumped 36% year-over-year to $312.1 million, with advertising revenue up 30% year-over-year to $33.6 million.

FuboTV reported a Q4 net loss of $95.9 million.

During the quarter, FuboTV closed its Fubo Gaming subsidiary and operations of its Fubo Sportsbook, which launched in 2021. Fubo had revealed in August it would no longer pursue independent wagering.

FuboTV claimed that “while multiple parties expressed interest in the business, none of these opportunities would have allowed Fubo to lower its funding requirements and generate sufficient returns to shareholders.”