My estimate us just the price of the entry ticket, cars, team, race shop costs on top of the $500M
Think the current Concorde Agreement finishes the end of 2025
The value of teams have sky rocketed since the current Concorde Agreement was written, hence exsisting teams poo pooing the measly $200M
Alpine who are a lower mid-field team on a bad day and a upper mid-field on a good day sold 24% stake for $200M earlier this year valuing the team at $833M.
Cheapest team is worth minimum $200M and most expensive team Ferrari which I have read were valued at $2B
I've heard the value of $600M quite often quoted inside F1 by people who know what's being discussed by the teams and FOM and journalists that think they know
I just rounded it down to $500M as I think Andretti/GM deserve an entry so I was trying g to save them $100M as they're going to need lot's of $100's of millions just to get their ass handed to them on a plate
for at least the first 3-5yrs it will take the team to consistently get up into the lower mid-field of the grid