India, Aug. 26 -- Cadillac, which has roped in Valtteri Bottas and Sergio Perez for its inaugural season, is paying a huge sum to each of its 10 Formula 1 rivals as part of the pre-arranged agreement, according to SPORTbible.

In March, Autoweek reported that the Cadillac team is required to pay a one-time anti-dilution fee of $450 million, which will be split equally among the 10 other teams in Formula 1. This was being done as part of the conditions to join the championship next year.

The American team is backed by General Motors and Andretti. On Tuesday, it was stated that Bottas and Perez have signed to drive for them during their inaugural season next year.

After joining F1 in 2016, the Haas F1 Team was not required to pay any anti...