The New Zealand-based Rodin Cars submitted an entry to join the F1 grid, projected for either 2025 or 2026, along with US racing powerhouse Andretti Global, F2 and F3 competitor Hitech GP, and South East Asian outfit LKYSUNZ.
Rodin was eventually not chosen to be put forward by the FIA, with Andretti given the nod to progress into the final phase. Here, the team will have to secure a deal with FOM to cement its place on the grid.
MORE: How the FIA went from seven F1 new team bids to Andretti
This comes amid resistance from the existing teams, who want an 11th team to have to pay a greater anti-dilution fee of $600 million - as opposed to the $200 million set out in the Concorde Agreement.
The teams have cited the increasing value of their businesses as enough reason to hike up the fee, but Dicker refuted those claims as "not rational".
"The dilution fee doesn't make any sense. I don't want to shit on the teams, but obviously they're experts at motor racing, but I'm not so sure about things like finance," Dicker told Autosport.
"The value of an actual team hasn't got any input into this whole dilution, and the idea that adding another team is going to even reduce the value of the other teams.
"That's just crazy town talk. I mean, that's not going to happen. Why would that happen? And the only area where there's even sort of potential dilution is in the prize pool. The prize pool is $900 million, as I understand it. So that's notionally $90 million per team. You bring in another team, you need another $90 million.
"It's not $200 million or $600 million; all the talk around dilution is just not rational."
Source: Autosport