Andretti Autosport has been closer than ever to joining Formula 1. But despite offering an anti-dilution fee of $200 million, the entry is not guaranteed as most teams are against the addition of the American team. In response, Michael Andretti has recently hit out at the teams, calling their entry to the sport would be nothing but good for F1.
Talking about this, the 61-year-old said to Bloomberg Originals, as per MotorsportWeek, “First of all, they think that we’re a bunch of hillbillies over here. And we don’t know what we’re doing. But because we have a lot of experience in racing, we might come at it from a different angle than everybody else, and it might work.”
Admittedly, the reason the F1 teams are holding the entry of Andretti and his team is profit dilution. The teams do not want their profit margin to be reduced with a new entry, even if they are ready to pay the anti-dilution fee.
Despite this, Andretti got the green signal from the FIA as their bid has been accepted by the F1 governing body. However, their entry still depends on Formula One Management, the teams, and their commercial side.
How is Andretti gearing for F1 entry?
Michael Andretti and his team have partnered up with fellow American automaker Cadillac. Since Andretti’s team would not be making engines themselves and have not decided to take it from existing teams if they enter F1, they have gone for Cadillac’s way as an engine supplier.
This has been a big move for them since F1 showed active interest in having the American manufacturer in the sport because of its massive presence in the North American market.
However, Cadillac would not enter F1 on its own but instead would enter with Michael Andretti’s proposed Andretti Global F1 team. As the FIA has already given the green signal, the final verdict is yet to be given.
Admittedly, Andretti’s entry in F1 would also solidify F1’s stand in the United States. Given how strong it has already become with the presence of Haas and of course, Drive to Survive, adding one more team is definitely going to be helpful for Formula One Management, business-wise.
