- By Andrew Benson
- Chief F1 writer
January 31, 2024, 15:44 GMT
Updated 26 minutes ago
image source, Getty Images
image description,
Michael Andretti currently owns teams that compete in IndyCar, Formula E and Extreme E
Formula 1 has rejected the American Andretti team's attempt to enter the sport in the next two years – but has left the door open for approval from 2028.
Formula 1 carried out an analysis involving key stakeholders and concluded that an 11th team “would not add value on its own”.
F1 also does not believe that the applicant would be a competitor.
That could change if partner General Motors produces its own engine.
Mario Andretti, the Formula One legend and figurehead of the team run by his son Michael, said he was “devastated” by the decision.
“I won’t say anything else because I can’t think of any other words other than ‘devastated,’” he said.
GM – which Andretti supports through its luxury Cadillac brand – has announced it will build its own F1 engine in time for the 2028 season.
Formula 1 said that “an application to enter a team into the 2028 championship with a GM powertrain would look different, either as a GM factory team or as a GM customer team, developing all permitted components in-house.”
“In this case, additional factors would need to be taken into account in relation to the value the applicant would bring to the championship, particularly in relation to bringing with it a prestigious new OEM.” [car manufacturer] for sports as PU [engine] Provider.”
Formula One said that before that point, “the need for any new team to take advantage of a mandatory power unit over a period of several seasons would be detrimental to the prestige and reputation of the championship.”
And it rejected the argument that Andretti's name – which is associated with both 1978 F1 champion Mario and Michael, an Indycar legend and former F1 driver – was a compelling addition.
“While the Andretti name enjoys some recognition among F1 fans, our research suggests that F1 would add value to the Andretti brand, rather than the other way around,” it said in a statement.
Michael Andretti is one of the most successful Indycar drivers of all time, who also drove for McLaren in Formula 1 for most of the 1993 season. His team competes in Indycar racing, endurance racing, touring car racing and the electric Formula E and Extreme E championships.
Mario Andretti is a motorsport legend who raced in Formula 1 from 1968 to 1982 and, in addition to his world championship title, also won 12 Grand Prix. He was also successful in Indycar and endurance races.
Other factors that were taken into account in the decision were the “operational burden on the race organizers, [which] would incur significant costs for some.
And F1 said it was “unable to detect a material expected positive impact on CRH's financial results as a key indicator of the pure commercial value of the championship”.
The decision was made after research and analysis involving broadcasters, sponsors and racetracks – the sport's main sources of revenue.
The most important insight from Formula 1 focused on engine supply. It essentially concluded that using an engine from an existing manufacturer for a limited period while maintaining close ties to a company that would soon be a rival was too great a compromise on the team's potential competitiveness.
Due to the potential intellectual property risks and the restrictions that Formula 1 considers on collaboration, this is a different situation to a normal engine supply to customers – such as from Mercedes with McLaren.
The existing F1 teams had made it clear that they were not in favor of Andretti's entry for 2025 or 2026 as it would have diluted their prize money income.
Current rules require new entrants to pay a $200m (£158m) dilution fee to compensate existing teams. However, they felt this was insufficient given F1 teams' current valuations, which are around $1 billion.
However, F1's statement made no mention of the existing teams being consulted in assessing Andretti's offer, nor did it acknowledge their position.
The FIA has been contacted for comment.
Comments are closed.