After months of facing pushback and fighting against all odds, Andretti Autosport is inching towards an F1 entry. Given that there were hundreds of millions at stake, even the current F1 teams did not want Andretti stepping into the grid as the 11th team in the sport. However, things have now taken a turn for the better, with Speed Sport reporting all is well between Michael Andretti and the rest of the team owners.
Andretti has faced resistance from the rest of the team owners on the grid, especially because of the monetary aspect. As of now, a $200 million dilution fee is split ten ways, but they will have to split it eleven ways if Andretti were to enter the sport. As such, the retired racing driver called the other owners “greedy.” Andretti added another cause for concern for the other owners would be- if his team were to enter the sport, there’s a good chance they would take all the American sponsors away, thus adding to owners’ monetary concerns.
Andretti on better terms with F1 teams
Andretti Global has been a prominent name in most forms of motorsports. The one where they have failed to make an impact has been F1, as they could not enter the grid despite trying multiple times. Now, partnered up with General Motors’ Cadillac, the team is making its final and biggest push in hopes of achieving the dream. After gaining support only from McLaren CEO Zak Brown and Alpine, Speed Sport reports water is under the bridge between Michael Andretti and the rest of the team owners, too.
“Zak has been great. He understands what it is going to do to help Formula One. He knows we are going to add to it. Alpine has been a great supporter, too. It’s not like we are getting 100 percent opposition from the current Formula One team owners.”
The American team has big plans for its future, and involvement in F1 is a vital part of those plans. All their motorsports ventures will soon be housed in a 600,000-square-foot facility in Fishers, Indiana. The facility is currently under construction as Michael Andretti looks to make a triumphant return to the sport in which he failed as a driver.
The American team might have to cough up over half a billion for an F1 entry
Having been denied by teams such as Sauber for a buyout, Andretti had no option but to push for a new team on the grid. Given the same, team bosses called for a 300% hike in the current anti-dilution fees, taking it up from $200 million to $600 million. Should the authorities accept the new suggestion, Andretti and Co. would have to pay $600 million just to enter the sport and then think about sustainability.
🚨🚨FIA Accepted Andretti F1 bid, three other teams rejected
As reported by https://t.co/jDDH4Kxh8M Andretti is reportedly the 1/4 team that FIA has accepted for the F1 bid
The Decision now rests with FOM (Liberty Media)#F1 #Formula1 #FIA #Andretti pic.twitter.com/UD49sNzunr— Desi Racing Co. (@DesiRacingco) September 22, 2023
With such high entry fees, Red Bull might also have a decision to make. They have two teams on the grid and stand as having to pay $1.2 billion for them both to continue racing. As such, the Austrian team might see it fit to sell the lesser of the two teams in order to not spend a ridiculous amount only for an entry to the sport. Should there be a fee hike and subsequent talk of an AlphaTauri sale, there is a potential for another new team on the grid, much like Audi in 2026.
