Prost welcomes new F1 team rumours

F1 legend Alain Prost has welcomed rumours suggesting an eleventh team could be on the grid in 2018.

The quadruple world champion, now an advisor for the Renault works team, told Germany’s Auto Bild the conditions to enter F1 are now better than when his own team went bust in 2001.

Prost’s comments follow reports a group with Chinese backing has enquired about signing staff from existing F1 teams for a new project.

"We used to be racing teams, but now everything is much more like business," the Frenchman said.

"That is one reason we lose fans — they don’t quite understand how a drinks maker like Red Bull can defeat automobile companies.

"But I can say that whoever wants to start a private team today has it easier than in my time. That was probably the worst time ever," Prost said.

"We never received more than $10 million (from F1), but we paid $28 million in the first year for engines, 30 in the second — how is that supposed to work?

"Today, every team gets at least $40 million in prize money," he said.