Andretti Global Clears First Hurdle To Join Formula One As An 11th Team With FIA Expansion Approval

Monday, the FIA announced that American Michael Andretti satisfies all requirements to expand the world’s premier motorsports series to 11 teams, removing a significant obstacle in his bid to launch a Formula One team.

The FIA decision does not guarantee Andretti will get the two-car team he desires. Andretti Global and its associate Cadillac must still demonstrate their commercial value to F1 rights holder Liberty Media and the existing teams, who adamantly oppose expanding the grid to twenty cars. However, the teams have no say in the expansion of the grid.

F1 said in a statement, “We note the FIA’s conclusions regarding the first and second phases of their process and will now conduct our own evaluation of the remaining application’s merits.”

The FIA’s approval was a crucial first step in Andretti’s three-year mission to restore one of auto racing’s most storied names to the pinnacle of the sport. His son Michael competed in 13 races during the 1993 season. Mario Andretti earned the F1 championship in 1978.

Father and son are among the most successful open-wheel racers in American history and rank third and fourth on IndyCar’s all-time tally of winners. They have been attempting to reintroduce the Andretti name to F1 for years and have cleared an impediment by securing Mohammed Ben Sulayem’s support for the effort.

Monday, the FIA announced that American Michael Andretti satisfies all requirements to expand the world’s premier motorsports series to 11 teams.

Ben Sulayem stated, “The FIA is obligated to approve applications that meet the Expression of Interests application requirements, and we followed this procedure in deciding that Andretti Formula Racing LLC’s application would advance to the next stage of the application process.”

“Andretti Formula Racing LLC was the only entity that met the established selection criteria in all material respects. I commend Michael Andretti and his team for their comprehensive submission.”

After Andretti petitioned for the grid to be expanded to enable new entrants, Ben Sulayem, who assumed leadership of the FIA in late 2021, oversaw the opening of an “expression of interest” process for potential new teams this year. Andretti’s action followed an abortive 2021 attempt to acquire an existing team.

In the initial phase, seven applicants were received by the FIA. Five made it to the second round, which required a $300,000 fee and a thorough investigation by the F1 governing body. Andretti, whose engines would be General Motors-branded under the Cadillac banner, was considered the only worthy applicant out of four who completed the process.

The applicant had to satisfy FIA’s sporting, technical and financial requirements to be recommended as a future team. Ben Sulayem stated on Monday that “our goal, after rigorous due diligence during the application phase, was to only approve prospective entries that met the established criteria and demonstrated they would enhance the sport.”

Monday, the FIA announced that American Michael Andretti satisfies all requirements to expand the world’s premier motorsports series to 11 teams.

Most existing teams have publicly opposed expanding the grid for anyone, including a General Motors-sponsored American. This year, there will be three F1 races in the United States and five in North America. The series has targeted a new sponsorship market by capitalising on the popularity of the European racing series in the United States.

But the existing teams, namely Red Bull and Mercedes, argue that they need to invest more heavily in F1 for anyone to buy their way in. Any new entrant must pay a $200 million anti-dilution fee, but the teams have argued that expansion reduces their financial share.

And if Andretti desires a team so badly, they say, he should buy one.

In 2016, Gene Haas founded the only American-owned team. Andretti has stated that his team will be the true American squad with an American driver, GM’s support, and an American sponsor.

Ben Sulayem has backed the Andretti effort and stated that the Andretti name and General Motors contribute too much to the series to be rejected outright for future teams. Furthermore, Andretti does not have a financial stake in F1’s profits like Liberty and the existing teams do.

Ben Sulayem said opening the procedure for new teams to join “also attracted further commitment from Audi, Honda and Ford and interest from Porsche and General Motors.”

This was the third time the FIA had solicited expressions of interest from prospective teams. The first, in 2009, resulted in four teams joining the series, but they all subsequently declared bankruptcy and left the sport. As a result, the requirements to join F1 and the application procedure have become extremely stringent.

Haas obtained his team in a 2014 expression of interest and continues to compete in Formula One.

SOURCE – (AP)