He has also met resistance from many of the existing 10 teams, as well as Formula One management, who have questioned the commercial benefit of a new entrant diluting the share of revenues.Īny new entrant must currently pay a $200million fee to enter, with that money shared by the existing teams as compensation. "The great thing is that GM has great people and resources at the ready so that is going to help us get up and running even quicker so we are in a really good position right now."Īndretti, who already has interests in Ind圜ar, Formula E, Extreme E and sportscars, announced plans for an F1 entry last February but met a lukewarm response at the time from the FIA. I think it is going to be the biggest story of the year. "One of the things is to have an American manufacturer behind and an American team with an American driver. "We have our technical director already hired and we will announce that down the road. "We've done a lot of hiring, we have quite a few people working for us, we have hired the main engineers so we are very much down the road," Michael Andretti told reporters on a video conference. The last completely new team to enter Formula One was US-owned Haas in 2016. He said the process would follow strict protocols and take several months.įormula One insiders saw no chance of a new team before 2026, when a new power unit is due to be introduced and Audi are set to enter a factory team after taking over Swiss-based Sauber. "If selected, the team is seeking to compete as soon as practical with at least one American driver."Īndretti Autosport's Ind圜ar driver Colton Herta (22) would be a frontrunner for a seat.įIA President Mohammed Ben Sulayem said the governing body was exploring the expressions of interest process and would provide an update soon. "The Andretti Cadillac team is planning to submit an expression of interest when the FIA opens the formal process," the statement added.
They said in a joint statement that an Andretti Cadillac team, if accepted by Formula One and the FIA governing body, would be based in the United States with a support facility in Britain. Andretti Global and General Motors said on Thursday they were planning to enter Formula One with a new American team under the latter's Cadillac brand.
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