Andretti Global Clears Next Hurdle for F1 Bid
Andretti Global has emerged as the only bid left in contention to join the F1 grid as the organization heads into phase 3 of the process. The FIA has outline the process as follows:
- Phase 1: Call for Expressions of Interest
- Phase 2: Application, evaluation and approval process
- Phase 3: Successful applicant referred to FOM for commercial discussions
The FIA received seven applicants at the beginning phase of the approval process. Five moved to phase two. Of the five, four completed the necessary filing and paid the $300,000 administrative fee. After phase three Andretti is now the last organization standing. There had been speculation as to who the front running bid for F1 entry would be but after two other contenders outed themselves as being denied progression forward it was clear that Andretti Global would be the sole front runner. Andretti must now convince the F1 Commercial Rights Holders with Liberty Media that the move makes sense business wise.
FIA President Comments on the Decision to Move Andretti to Phase 3
FIA President, Mohammed Ben Sulayem expressed support for Andretti in the FIA press release identifying Andretti as the front runner.
“The FIA was very clear in establishing stringent criteria for entry from the outset of the Expressions of Interest procedure. Our objective, after rigorous due diligence during the application phase, was to only approve prospective entries which satisfied the set criteria and illustrated that they would add value to the sport.
The FIA is obliged to approve applications that comply with the Expressions of Interests application requirements and we have adhered to that procedure in deciding that Andretti Formula Racing LLC’s application would proceed to the next stage of the application process. In taking that decision, the FIA is acting in accordance with EU directives on motor sport participation and development.
Andretti Formula Racing LLC was the only entity which fulfils the selection criteria that was set in all material respects. I congratulate Michael Andretti and his team on a thorough submission. I also want to thank all prospective teams for their interest and participation.”
Michael Andretti had the following statement after the news, “We appreciate the FIA’s rigorous, transparent and complete evaluation process and are incredibly excited to be given the opportunity to compete in such a historic and prestigious championship,” the statement said. “The formation of this distinctly American team is an important moment of pride for all our employees and fans. We feel strongly that Andretti Cadillac’s deep racing competencies and the technological advancements that come from racing will benefit our customers while heightening enthusiasm for F1, globally.”
To date support for expansion has not been positive amongst the 10 teams already in Formula 1. The biggest reason for this resistance is the split of championship payouts. However, the teams have no say in the remaining proceedings. If Andretti and the FIA can come to a deal we will see them in Formula in either 2025 or 2026. It is rumored that a 2026 entry would be more favorable considering the expiration of the current Concorde agreement set to expire in 2025. For now we sit back and wait to see how negotiation talks go.
All in all Andretti is one step closer to fielding a truly American F1 team. Haas is currently coined as an American based team. However they do no field American drivers and their power unit supplier is Ferrari. America has been a hot bed for new fans over the past three years. It’s clear Andretti Global feels more can be done here.