The “real American racing team” is one step closer to Formula 1: Andretti Formula Racing’s application for a place in the premier motorsport class received approval from the FIA, the world automobile association, on Monday (October 2nd, 2023).
Andretti can now start discussions about economic conditions with Formula 1 Management (FOM). The FIA announced this in the afternoon.
The American racing great Michael Andretti (60) teamed up with the General Motors brand Cadillac in order to be part of Formula 1 from 2025 at the earliest. However, approval from the FIA was probably the lower hurdle: in February, the world association officially asked for applications and repeatedly advocated for at least one new team.
Rejection from Formula 1 circles
However, there are also negative reactions from Formula 1. The ten current teams would have to accept a loss of income if another racing team were added – unless the newcomer ensures significantly higher revenues. This is also what the FOM management wants to achieve anyway, which now has to lead the negotiations and make a decision.
On Monday, Formula 1 simply “acknowledged” the FIA’s announcement and said it would now “carry out its own assessment of the remaining applicants”.
USA as a growth market for Formula 1
The FIA had recently examined the applications of four remaining interested parties in detail, only Andretti survived this second phase. Among other things, the financial, technical and sporting possibilities of the applicants were examined.
Andretti had repeatedly emphasized that he could offer Formula 1 added value, especially through its status as the “only” American team – the United States is currently the racing series’ largest growth market. The Haas racing team already exists, whose owner Gene Haas is successful in US racing. The team has an additional headquarters in Banbury, UK, and has worked closely with Ferrari since it was founded in 2016.