Despite submitting the “paperwork”, it is highly unlikely Andretti Global F1 Team will be a part of Formula 1 in 2024 as the FIA denies to comment on the potential new entrant teams

Following Michael Andretti’s intention to launch a new F1 team in 2024, the FIA said that they are not currently in a position to consider a new entry into the sport.

This Friday, Mario Andretti shocked the sporting world. They shared a public statement of their home team ‘Andretti Global’ joining the F1 grid in 2024.

Although they have submitted “paperwork”, FIA has denied the speculation stating:

“The FIA is not currently in a position to consider or comment on any expressions of interest or applications received from potential new entrant teams in respect of the FIA Formula One World Championship.”

More entries in 2024?

Lotus, Virgin, and HRT were the teams that previously joined Formula 1 in 2010. However, in 2014 we witnessed new regulations and the turbo-hybrid era. In 2016, Gene Haas’ American team Haas F1 entered the sport. All these teams went through intense tests and paperwork with factors like finance and technical capabilities.

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Moreover, it is rumoured that Audi or Porsche are looking to bring their expertise to the sport. Either they will few years by partnering with current teams or starting their own team.

As of 2022, FIA is not looking for new entrants due to their regulations and commercial rights. Any new team joining will have to pay a $200 million fee to join F1 as per the new Concorde Agreement agreed in 2020.

Michael Andretti has ambitious plans after a failed takeover

As per the speculations, Michael Andretti had a failed attempt at purchasing Alfa Romeo last year.  Looking to bounceback, Andretti confidently expressed his desire of joining the sport stating:

“They’re all set. They checked all those boxes, all of those things that are part of it. They’re going in with their eyes wide open with all the prerequisites.”

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He also informed the media that their cars will be built in Indianapolis with another department working in the United Kingdom.

“They’re far enough along that, if they get the approval to be added to the 10 teams that exist in F1, they’re ready to go the next day and put everything in place,” Andretti concluded.