$600 million deal collapse that forced Michael Andretti to seek Cadillac’s support for F1 entry

Michael Andretti without being in F1 is the biggest buzz in F1 right now. The American racing mogul has long been trying to bring in his team Andretti Autosport into the most advanced motorsport.

However, he can’t get the unanimous green light from F1, as the big names in it aren’t keen on dividing the revenue with him. Thus, the 11th team entry has been a failure so far.

But on Thursday, he shocked the entire F1 fraternity when he announced a combined bid with GM for an F1 entry. Together they want to field a team named Andretti Cadillac racing.

An offer probably F1 can’t refuse, considering in the American market sense, it’s a big offer as they want to grab every opportunity to penetrate the American sports market further.

Also read: How in 1981, a young Ayrton Senna found solace in $260,000 worth rural Norwich bungalow

A mammoth deal break; Michael Andretti brought a Cadillac

Before Andretti convinced GM to get into their programme, Andretti knocked on every door. According to Forbes, he was even willing to agree $600 million deal with Sauber that could have gotten him a smooth entry into the sport.

But in the end, the deal collapsed as the Swiss team didn’t want to give away the authoritative rights. Fast forward to the end of 2022, Sauber promised Audi 75% of their stakes for $450 million per Joe Saward.

The mentioned Audi will acquire 75% of the stakes over three years. The remaining stakes would be with Sauber, and together they will be running a team under Audi’s engine from 2026.

Cadillac always wanted to be in F1

For GM, this announcement is historical. It would be their first foray into International motorsport. They have contemplated participating in F1 for a long time, but several hurdles have stopped them.

“At some point, GM, we would have loved to have gotten into Formula One,” GM President Mark Reuss explained. “For various reasons, it was pretty tough to do that whether the leadership or the amount of money at that time or where the company was and where the economy was were different.”

The bid now depends upon the approval of the FIA and F1. FIA’s President Ben Sulayem is supporting  Andretti to be the 11th F1 team, as he is rooting for the sport’s further expansion. It’s only F1 teams that need to accept the all-American bid.

Michael Andretti has submitted one of the most impressive F1 entry applications in the sport’s history. A big name team with a history of racing success, run by a big name family with a history of racing success, backed by a big name manufacturer new to F1. Hope he’s successful

— Sean Kelly (@virtualstatman) January 6, 2023

For F1 bosses, this deal could never be better. The biggest American team and the biggest American car brand promise them the hottest American Indycar sensation. What else do they need to arouse an American viewer’s interest?

Also read: Who will get to race for Andretti-Cadillac F1 team if they meet approval?

About the author

Tanish Chachra

Tanish Chachra is the Motorsport editor at The SportsRush. He saw his first race when F1 visited India in 2011, and since then, his romance with the sport has been seasonal until he took up this role in 2020. Reigniting F1's coverage on this site, Tanish has fallen in love with the sport all over again. He loves Kimi Raikkonen and sees a future world champion in Oscar Piastri. Away from us, he loves to snuggle inside his books.

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